Co-ops team up to finance projects

Michigan Milk Producers Association (MMPA) of Novi, Mich. and Foremost Farms USA of Baraboo, Wis., announced they have signed a memorandum of understanding (MOU). The MOU incorporates intense focus within the two cooperatives to drive mutual investment to maximize members’ returns on their quality milk.

The MOU formalizes advanced discussions between the two cooperatives to pursue proposed co-investment opportunities which include, but are not limited to, the Middlebury Cheese Company and the recently announced dairy campus in Greenville, Mich. It also incorporates expanding the current strategic alliance the two cooperatives have had in place since 2014 at the MMPA Constantine plant with the reverse osmosis investment.

“This commitment not only includes investments but also creates a marketing partnership that will mutually benefit both organizations. By working cooperatively, we are utilizing each cooperative’s independent strengths,” said MMPA General Manager Joe Diglio. “Through collaborative efforts, we can avoid investing in redundant assets and allow us to fully optimize our members’ capital investments.”

Foremost Farms hopes to open the first phase of its Greenville campus this fall.

“We collectively believe more immediate investment is needed to satisfy the imbalance between milk production and milk solids processing capacity.” said Mike Doyle, President and CEO, Foremost Farms. “We believe this arrangement will help satisfy that need and create value-added processing growth.”