Growing together with partners like Chuck Valek, General Manager, Belle Plaine Cooperative, Belle Plaine, Minn.

The Land O'Lakes system is a growing force in the agricultural marketplace. In Feed, 2001 was a particularly exciting and historic year. The year began with the implementation of the Land O'Lakes Farmland Feed joint venture and wound down as Land O'Lakes completed the largest acquisition in its history—the purchase of Purina Mills. Land O'Lakes now has access to two of the strongest brands in the feed industry. And, as a result, Land O'Lakes has the leading market shares among both farm and companion animal feeds. The enhanced size and scale of the cooperative's feed operations are expected to produce significant cost savings and enhanced profitability, which will benefit members.

Another significant development in Feed in 2001 was the completion of a new, state-of-the-art animal milk replacer plant in Black River Falls, Wis. This plant will further strengthen Land O'Lakes global leadership position in this important market segment.

Significant growth in the layers and egg business occurred in 2001 through acquisitions carried out as part of the Land O'Lakes joint venture with MoArk. This joint venture has created opportunities for local cooperatives to increase their feed volume, while enhancing their bottom line through diversification. It represents a solid example of Land O'Lakes continuing efforts to help build an integrated, farmer-owned food supply chain.

Land O'Lakes also had a positive year in swine, as rebounding hog prices contributed to increased earnings. Through the Aligned System, local cooperatives are involved selling feed and delivering genetically superior feeder pigs to independent producers. In this way, Land O'Lakes and local cooperatives are helping ensure the survival of independent hog producers.

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