Golden Growers Cooperative (PK:GGROU)
Business Focus: Food Processing
| Sector: Consumer Non-Cyclicals | Industry: Food Processing |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1002 Main Avenue West, Suite 5 WEST FARGO ND 58078 |
| Tel: | N/A |
| Website: | https://goldengrowers.com |
| IR: | See website |
| Key People | ||
| Scott Stofferahn Chief Executive Officer, Chief Financial Officer, Executive Vice President | Scott A. Jetvig Independent Second Vice Chairperson | Brett A. Johnson Independent First Vice Chairperson |
| Lawrence A. Vipond Treasurer, Independent Director | Matthew Hasbargen Secretary, Independent Director | |
| Business Overview |
| Golden Growers Cooperative (Cooperative) is a value-added agricultural cooperative association. The Company is owned by 1,462 members primarily from Minnesota, North Dakota and South Dakota, all of whom deliver corn to the Company for processing. The Company's members receive additional value from the corn that they grow through the processing of that corn into value-added products, such as corn sweeteners. It has a joint venture with American Crystal Sugar Company (American Crystal). American Crystal through, ProGold Limited Liability Company (ProGold), designs and constructs a corn wet-milling facility in Wahpeton, North Dakota to process corn into high fructose corn syrup and related co-products. The Company's membership in ProGold LLC includes a right and obligation for the Company to deliver corn to the ProGold facility for processing. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Golden Growers Cooperative revenues decreased 18% to $88M. Net income decreased 20% to $5.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Net Income from ProGold LLC decrease of 10% to $6.1M (income), Other Income decrease of 76% to $121K (income), General & Administrative Expenses increase of 15% to $615K (expense). |
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