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CHS Inc.

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For the UK government agency also named Cenex, see Centre of Excellence for Low Carbon and Fuel Cell Technologies
CHS Inc.
Company typeSecondary agricultural cooperative
Nasdaq: CHSCP
IndustryWholesale agriculture products
Fuels
Founded1931 as Farmers Union Central Exchange
Headquarters
Inver Grove Heights, Minnesota
,
United States
Key people
Jay Debertin, CEO
RevenueDecrease US$30.347 billion (2016)
Decrease US$310.2 million (2016)
Decrease US$424.19 million (2016)
Total assetsIncrease US$17.317 billion (2016)
Total equityIncrease US$7.851 billion (2016)
Number of employees
12,157 (2016)
Websitewww.chsinc.com

CHS Inc. is a Fortune 100 business owned by United States agricultural cooperatives, farmers, ranchers, and thousands of preferred stock holders. Based in Inver Grove Heights, Minnesota,[1] it owns and operates various food processing and wholesale, farm supply, Cenex brand fuel, financial services and retail businesses, and is a co-owner of Ventura Foods, a vegetable oil processor.

It is ranked 1st on the National Cooperative Bank Co-op 100 list of mutuals and cooperatives (ranked by 2012 revenue), and 69th (by 2012 revenue) in the Fortune 500 2013 list of United States corporations.[1][2][3]

History

CHS today is the result of many mergers of farmer-owned cooperatives. Significant events include the following.

In 1931 Farmers Union Central Exchange was founded in Saint Paul, Minnesota. That core cooperative company later became Cenex, a combination from the last two words in its former name.[4]

In 1998, Cenex merged with Harvest States Cooperatives to form Cenex Harvest States.[4]

In 2003, the cooperative changed its legal name to CHS Inc., with Cenex becoming the name of the energy brand.[4]

John Johnson was the President and CEO. Johnson began his career with former Harvest States in 1976 as a feed consultant in the GTA Feeds Division, later becoming regional sales manager, director of sales and marketing and general manager of GTA Feeds. He retired from CHS Inc on December 31, 2010.[5]

On May 22, 2017, Jay D. Debertin succeeded Carl Casale as President and CEO. Debertin previously served as Chief Operating Officer of Energy and Foods and Executive Vice President at CHS since January 2011.[6]

In November 2011, CHS acquired Israeli, TASE listed, soy protein company Solbar Industries for $133 Million.[7]

Harvest States Cooperatives was the largest recipient of federal farm subsidies in Minnesota between 1995 and 2012, having received over $48 million, mostly in the form of commodity subsidies.[8]

Products and services

Cenex gas station in Miles City, Montana.

CHS activities include grain merchandising and transportation, sunflower and soybean processing, wholesale fertilizer, animal feed production and sale, and various farm supply.[1] It is also the manufacturer of Cenex brand gasoline and diesel products from refineries in Laurel, Montana and McPherson, Kansas. Through wholly owned subsidiaries, it sells property/casualty insurance, group health benefits, agricultural financing and commodity brokerage services.[1] CHS also has a joint venture with Mitsui & Co. called Ventura Foods, LLC, that manufactures and distributes vegetable-oil based products such as margarine and cooking oil. Ventura Foods owns and distributes the consumer brands Homade Chili Sauce, Dean's Dips and Marie's Dressings.[1]

References

  1. ^ a b c d e "TechCorr's Clients's (Partial List)". TechCorr.com.
  2. ^ "2010 NCB Co-op 100". National Cooperative Bank. Archived from the original (pdf) on 2005-02-17. {{cite web}}: Unknown parameter |dead-url= ignored (|url-status= suggested) (help)
  3. ^ "Fortune 500: 103 CHS". Fortune. Time Inc. 2011-05-23. Retrieved 2011-10-05.
  4. ^ a b c History of CHS Inc. Archived March 5, 2012, at the Wayback Machine at chsinc.com
  5. ^ "Press release:CHS CEO Johnson to Retire at Year End". Wall Street Journal. Retrieved 2010-07-01. [dead link]
  6. ^ https://www.bloomberg.com/research/stocks/private/person.asp?personId=25093372&privcapId=160810
  7. ^ "CHS To Acquire Israeli Soy Protein Company Solbar Industries For $133M". Wall Street Journal. November 23, 2011.
  8. ^ "Farm subsidies in Minnesota". Environmental Working Group.
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