Wilco, a prominent agricultural cooperative serving the Pacific Northwest and Northern California, has announced its decision to divest its Hazelnut Growers of Oregon (HGO) business. This allows Wilco to refocus its investments and resources on driving long-term growth and to better serve member-owners, customers, and the community.
"This decision is significant and was made after detailed analysis and careful deliberation," said Ben Coleman, chairman of the Wilco Board of Directors. "We recognize the importance of the hazelnut industry to the greater Willamette Valley region, and we are disappointed we have not been able to achieve an acceptable level of performance with the Hazelnut Growers of Oregon business."
Wilco will continue to support HGO as it fulfills its commitment to finish processing the 2023 hazelnut crop and consistent with the cooperative's core values, will support HGO employees through this transition. Wilco will make final grower payments on June 14. However, as part of the divestment process, the co-op will not be receiving the 2024 crop. The announcement today allows growers time to seek alternative processing options.
Wilco is actively seeking a buyer for the HGO business unit, located in Donald, Oregon.
"While this divestment means change, it also presents an opportunity for Wilco to refocus our efforts as an agricultural cooperative, investing in areas that will increase our long-term growth prospects, and enhance our ability to serve our members," said John Bowersox, President and CEO of Wilco.
"Wilco is financially sound, and we are optimistic about our future," added Bowersox. "By taking this action, we will emerge better positioned to fulfill our purpose as a member-owned cooperative that strengthens agricultural and rural lifestyles."
For more information:
Jake Wilson
Wilco Farmers Cooperative
Tel.: +1 800.382.5339
Email: [email protected]
www.wilco.coop