It's decision time for the 340 farmer-owners of the St. Albans Cooperative Creamery. The farmers vote Monday on into the much larger Dairy Farmers of America.
The seven-member St. Albans board has already voted unanimously to have the St. Albans co-op, its trucking company and retail store become wholly owned subsidiaries of the 14,000-member Dairy Farmers of America based in Kansas City, Kansas.
Now for the deal to be finalized, two-thirds of those attending a special meeting in St. Albans must approve.
The St. Albans board has pitched the deal as a win-win for the Vermont co-op. One big reason is the need for investment in the co-op鈥檚 plant and equipment. A DFA official has pledged that it will invest $30 million in the St. Albans processing plant, and another $5 million in the trucking company.
But critics point out that St. Albans' farmers will vote on the deal without knowing fully how it will affect their bottom line. The exact value of their ownership stake will be determined by an audit after the vote happens.
The special meeting with be held Monday, July 29, from 11 a.m. to 2 p.m. at the American Legion in St. Albans.
