Cargill and Golden Growers Cooperative have reached an agreement on a joint venture in ProGold LLC, owner of a corn wet milling facility in Wahpeton, North Dakota, US, and 510 acres of land on which the facility sits, the companies announced Feb. 24.

ProGold LLC was formed in 1994 as a joint venture between Golden Growers, American Crystal Sugar Co. and Minn-Dak Farmers Cooperative. Cargill, which has leased and operated the wet milling facility since 1997, and Golden Growers will each retain 50% ownership in ProGold upon buying out American Crystal Sugar Co.’s 51% equity stake. The transaction is expected to close by the end of February.

The 240,825-square-foot corn wet mill, which Cargill will continue to operate, has about 185 employees and contractors combined. Cargill contracts with about 1,500 local corn growers, enabling the facility to grind approximately 90,000 bushels of corn daily to produce animal feed and food ingredients that are used in baked foods, beverages, dairy products and confectionery goods.