Garnett co-op sold to Beachner Grain
By CLEON RICKEL, Herald Senior Writer
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GARNETT — Shareholders of the New Horizons Farm & Home Cooperative, Garnett, narrowly approved a sale of the financially-troubled cooperative to Beachner Grain, St. Paul, Tuesday.
Shareholders had to approve the sale by a two-thirds majority. The proposal to sell to Beachner cleared by two votes, according to shareholders who attended the meeting.
They described the meeting as stormy.
Beachner and Ottawa Co-op submitted bids for the cooperative.
However, Ottawa’s bid didn’t meet the specifications and only Beachner’s bid was on the ballot, Gene Highberger, New Horizons chairman, said.
Beachner bid $3.82 million, Highberger said.
Beachner plans to take possession of the co-op by the first of June, he said.
“They want to have everything up and running by wheat harvest,” he said.
The sale of New Horizons was virtually assured when the cooperative lost its major bank lender, he said.
Beachner hasn’t announced its plans for the former New Horizons facilities but has said they intend to keep the present employees, which number about 58 full- and part-time employees, he said.
Beachner has an elevator at Richmond.
New Horizons has elevators at Garnett, Greeley, Harris, Kincaid, Paola, Fontana, LaCygne and Mound City.
The original cooperative that became New Horizons was started in 1912 in Greeley, Highberger said.
“It’s been around for a long time,” he said.
The Anderson County cooperative then merged with the Linn County Cooperative. The company, then United Cooperative, merged with the Miami County cooperative and the name was changed to New Horizon.
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