Golden Growers Cooperative (GGROU) is an agricultural cooperative that organizes corn growers to deliver corn for processing at a wet-milling facility. The cooperative earns income primarily through its 50% membership interest in ProGold Limited Liability Company (ProGold), which derives revenue from Cargill Incorporated's lease of the ProGold processing facility. Members receive a market price for corn delivered, plus patronage distributions proportionate to their share of the cooperative's income from ProGold. Golden Growers was formed in 1994 by a group of corn growers in the region around West Fargo, North Dakota, with the goal of adding value to member-delivered corn through partial ownership of a processing facility. The cooperative pays Cargill an annual fee of $60,000 for handling member corn deliveries, plus a per-bushel fee of $400 for each member who fails to complete deliveries, as disclosed in the 10-K filed 2026-03-18. Member income and losses are allocated annually based on bushels delivered under Method A or Method B delivery pools per the Fourth Amended and Restated Bylaws.

Revenue model

The cooperative's income derives from its 50% interest in ProGold LLC, which receives lease payments from Cargill for the wet-milling facility. Members receive market-price payments for corn delivered plus patronage distributions based on each member's proportionate share of cooperative income from ProGold.

Products and services

Corn aggregation and delivery coordination for wet-milling processing. Patronage distributions to member corn growers based on bushels delivered under Method A and Method B delivery pools.

Customers and end markets

Members are corn growers who are contractually obligated to deliver corn to the cooperative. The primary commercial counterparty is Cargill Incorporated, which leases the ProGold wet-milling facility and processes the delivered corn.

Value-chain role

Grower-owned aggregator and pass-through entity sitting between individual corn growers and the Cargill-operated ProGold wet-milling facility. The cooperative coordinates corn delivery logistics and distributes lease-derived income back to member growers.

Geographic exposure

Headquartered in West Fargo, North Dakota (1002 Main Avenue West, Suite 5). Operations centered on corn-growing members in the surrounding regional agricultural area.

Source: SEC 10-K, filed 2026-03-18

Industry: Agricultural Services Peers: Alico Inc AppHarvest, Inc. Archer-Daniels-Midland Co CHS Inc Global Clean Energy Holdings, Inc. Local Bounti Corp Limoneira Co