Shareholders Vote To Sell Rochdale Cooperative

A substantial majority of Nezperce Rochdale shareholders has voted to sell the 80-year-old grain cooperative for $1.3 million to Columbia Grain.

The members’ 43-5 approval on Monday followed a similar move last week by the board of directors.

Rochdale manager Drew Leitch said most of the sale price will go toward paying off the company’s debts to U.S. Bank and the Small Business Administration.

It was the huge debt, which has loomed the past few years, that forced the farmer-members to begin last year looking for a buyer.

In the past couple of years the cooperative has done up to $14 million in business, but expenses allowed only about $300,000 in profit.

Columbia Grain manager Russ Braun of Lewiston has said Rochdale will continue to operate with no gap in service through this harvest, although it is uncertain how many jobs will be lost eventually.

Besides the main plant in Nezperce, Rochdale has receiving stations around the region and ownership in the Lewis-Clark terminal at the port of Lewiston.