Golden Growers Cooperative consents to Cargill exercising option to buy 50% of ProGold; Cooperative buys remaining 1%

Golden Growers Cooperative

Cargill exercised option to purchase a 50% interest in ProGold LLC from American Crystal Sugar Company.
Golden Growers Cooperative consented to the transfer and will buy American Crystal's remaining 1% interest, making Cargill and Cooperative each own 50% of ProGold.
Operating Agreement sets a six-member board with three appointed by each owner; sale of ProGold requires mutual consent.
At closing, Cargill will pay Golden Growers $1.28 million as early buyout of previously committed capital projects.
Lease Agreement: Cargill pays ProGold annual rent of $15.5 million in 2022-2023, $16 million in 2024-2026, plus infrastructure maintenance costs.

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