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Article: Land O'Lakes Plans Joint Venture, Considers Merger.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 26, 1998
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Lee Egerstrom, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Feb. 26--As the dairy industry faces turmoil and the food industry whirls with mergers, Land O'Lakes said Wednesday it will form a joint venture business with Harvest States and is in merger talks with a large California dairy co-op.
Both moves follow the third best year for profits at Arden Hills-based Land O'Lakes. But they come as changes in the food industry threaten to limit the dairy cooperative's growth potential.
In the past year, Land O'Lakes had earnings of $94.7 million, from sales of $4.2 billion -- the highest sales achieved since it ...