AG Processing Incorporated was founded in 1983 with the combined efforts of three US-based soybean processing companies: Land O’Lakes, Farmland Industries and Boone Valley. Farmland and Land O’Lakes combined their soybean processing facilities in Minnesota, Iowa and Arkansas into the new company that is now currently known as AG Processing Incorporated. Soon after its foundation, the company adopted its current trademark, AGP®.
In 1985, AGP was able to acquire additional processing facilities in Iowa, specifically in Mason City and Manning. These processing facilities were previously owned by AGRI. That same year, the company also started to produce refined soybean oil. In 1990, the company bought a grain terminal in Lincoln, Nebraska. This grain terminal was then sold to a new corporation, the AGP Grain Co-op a year after. In the same year, AGP bought the North American AG Division of International Multifoods. This acquisition included the US-based Supersweet Feeds and the Canadian company Masterfeeds.
The company’s refining capacity was increased in 1991 when it purchased a refinery in Texas and another two years later. In 1994, the Denison processing operations was consolidated into the facility located in Sherman, Texas. That same year, AGP purchased a corn ethanol processing facility in Tennessee. This facility was dismantled however and was relocated to Hastings in Nebraska in 1995 where it resumed operations. In 1998, the company’s new refinery was completed at Eagle Grove, Nebraska. In 2000, the Sherman refinery was closed primarily because of shifts in market conditions. A year after, the company was able to bounce back when it completed its largest refinery for vegetable oil.
Currently, AGP is considered to be the biggest soybean processing company in the state of Iowa and the fourth biggest soybean processing company in the United States, capacity-wise. It is also considered as the largest soybean processor cooperative worldwide. AGP processing facilities are supplied with over eighteen million bushels of raw soybeans for processing every month, which is equivalent to 16 thousand acres of soybeans per day or 5 million acres of soybeans per year.
• Headquarters: Omaha, Nebraska
• Ownership Type: Private, Cooperative
• No. of Employees: 1,100 (2009)
• Geography: USA and Canada
• Demography: retail vegetable oil consumers, commercial animal feeds and feed additives consumers
AGP®, AminoPlus®, Masterfeeds®, SoyGold®