KVSV

Farmway Coop Inc. acquires Bennington Oil Inc.

Farmway Coop, Inc., a north central Kansas grain, agronomy and energy cooperative, has bought Minneapolis, Kansas-based Bennington Oil Inc. Co., a leading business focused on propane, fuel and lubricants. The transition takes place March 1.

Wayne Reed, owner and founder of Bennington Oil, said the agreement with Beloit, Kansas-based Farmway Coop will open up new opportunities for customers and fuel future growth.

"We feel this is the best opportunity for our employees, customers and producers. It allows us to keep our commitments in the community and to provide more opportunities for our customers through the cooperative," said Reed, current owner of Bennington. "We are a family here and we are just joining a bigger family. And I think that's good."

The current management team remains in place and there will be little change for Bennington Oil's 17 employees or the six locations in Delphos, Glasco, Minneapolis and Bennington. Jeremy Ragland from Minneapolis has leased the Bennington Oil Tire Shop location and will operate his Farm Tire Shop from the downtown Minneapolis location.

Currently, Farmway offers 15 fueling sites in north central Kansas. Bennington Oil's five fueling sites will be upgraded to Farmway's equipment throughout March, April and May. Once this is complete, customers will have 24-hour fuel service at 20 locations with the capability of using the Farmway fuel card or major credit card in eight counties.

"For new customers to Farmway, we would like to welcome you to the Farmway family," said Art Duerksen, Farmway CEO. "To all customers, Farmway employees would like to let you know we are working every day to fulfill our purpose statement, ‘Helping Our Owners Succeed.'"

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