River Valley Cooperative and Rumbold and Kuhn, Inc. Sign Purchase Agreement
Dec 22, 2023
DAVENPORT, Iowa and WYOMING, Illinois (Friday, December 22, 2023) – River Valley Cooperative, headquartered in Davenport, Iowa, and Rumbold and Kuhn, Inc. announced that they have signed an agreement for River Valley Cooperative to acquire the commercial grain assets of Rumbold and Kuhn, Inc. as well as the transportation assets of Ezra Rumbold & Sons, Inc. River Valley Cooperative is expected to complete the acquisition by the end of June 2024.
Rumbold and Kuhn, Inc., which celebrated their 70-year anniversary in 2022, manages seven commercial grain elevator facilities in Illinois with locations in Duncan, Princeville, Putnam, Speer, Toulon, and two Wyoming locations. Rumbold and Kuhn has revenues of approximately $330 million and employs 45 individuals, who are expected to join River Valley Cooperative and continue serving Rumbold and Kuhn customers.
River Valley Cooperative is a full-service ag cooperative with annual sales in excess of $1.2 billion. Owned by over 3,100 farm families in Eastern Iowa and Northwest Illinois, River Valley Cooperative has 35 locations with over 400 employees. In addition to the grain business, River Valley Cooperative offers products and services in agronomy, energy, and feed. River Valley Cooperative’s parent roots date back to 1906.
“The culture and values of River Valley Cooperative are consistent with what Rumbold and Kuhn has developed over its 70-year history, and I am excited to know that our customers will continue to get the same great service their loyalty deserves,” said Rumbold and Kuhn, President, Mike Rumbold.
“We look forward to working alongside the Rumbold and Kuhn employees within the combined organization and continuing our mutual commitment to excellent customer service,” added Tim Burress, River Valley Cooperative CEO. “Having the ability to bring together two dedicated employee teams, shared culture and values, and financial stability is a tremendous opportunity. This partnership, along with our recent agronomy facility expansions in the area, further enhances our commitment to serving customers in our Illinois trade area.”
Learn more about River Valley Cooperative at www.rivervalleycoop.com and Rumbold and Kuhn, Inc. at www.rkgrain.com.
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Rumbold and Kuhn, Inc., which celebrated their 70-year anniversary in 2022, manages seven commercial grain elevator facilities in Illinois with locations in Duncan, Princeville, Putnam, Speer, Toulon, and two Wyoming locations. Rumbold and Kuhn has revenues of approximately $330 million and employs 45 individuals, who are expected to join River Valley Cooperative and continue serving Rumbold and Kuhn customers.
River Valley Cooperative is a full-service ag cooperative with annual sales in excess of $1.2 billion. Owned by over 3,100 farm families in Eastern Iowa and Northwest Illinois, River Valley Cooperative has 35 locations with over 400 employees. In addition to the grain business, River Valley Cooperative offers products and services in agronomy, energy, and feed. River Valley Cooperative’s parent roots date back to 1906.
“The culture and values of River Valley Cooperative are consistent with what Rumbold and Kuhn has developed over its 70-year history, and I am excited to know that our customers will continue to get the same great service their loyalty deserves,” said Rumbold and Kuhn, President, Mike Rumbold.
“We look forward to working alongside the Rumbold and Kuhn employees within the combined organization and continuing our mutual commitment to excellent customer service,” added Tim Burress, River Valley Cooperative CEO. “Having the ability to bring together two dedicated employee teams, shared culture and values, and financial stability is a tremendous opportunity. This partnership, along with our recent agronomy facility expansions in the area, further enhances our commitment to serving customers in our Illinois trade area.”
Learn more about River Valley Cooperative at www.rivervalleycoop.com and Rumbold and Kuhn, Inc. at www.rkgrain.com.
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