River Valley Cooperative and Eastern Iowa Propane & Petro this week announced the companies have signed an agreement for River Valley to buy the assets of Eastern Iowa.
The deal is expected to be completed by April 15.
“We look forward to working alongside Eastern Iowa Propane & Petro employees within the combined organization and continuing our mutual commitment to excellent customer service,” said Tim Burress, River Valley Cooperative CEO, in a news release. “Having the ability to bring together two dedicated employee teams, shared culture and values, along with financial stability is a tremendous opportunity. This partnership, along with our current energy business footprint in the Clinton, Scott, and Whiteside County areas, further enhances our commitment to serving customers in Eastern Iowa and Western Illinois.”
Brent Seeser, owner of Eastern Iowa Propane & Petro, added, “I am excited to know that our customers will continue to get the same great service their loyalty deserves.”
Eastern Iowa Propane & Petro, LTD entered the energy business in 1983. Today, it operates two retail locations in Clinton and Maysville and delivers propane and refined fuel products to 3,000 customers throughout Eastern Iowa and Western Illinois. Eastern Iowa Propane & Petro employs approximately 25 full-time employees, who are expected to join River Valley Cooperative and continue serving current Eastern Iowa Propane customers.
River Valley Cooperative, based in Davenport, is a full-service ag cooperative with annual sales of approximately $800 million. Owned by over 2,950 farm families in Eastern Iowa and Northwest Illinois, River Valley Cooperative has 36 locations with over 300 full-time employees. In addition to the energy business, River Valley Cooperative offers products and services in agronomy, grain, and feed. River Valley Cooperative’s parent roots date back to 1906.