Golden Growers Cooperative, founded in 1994 to add value for member corn growers via ownership in a corn wet-milling facility, secured long-term revenue through an exclusive lease agreement with Cargill. The cooperative’s structure, binding members to deliver over 15 million bushels annually, created a protected economic moat by aligning member interests with the ProGold facility. Recent years showed steady lease payments as the main income source, but challenges in renewing joint venture agreements led to a member-approved Plan of Liquidation in 2025. This will terminate operating revenues upon lease expiration in 2026 and result in asset sale proceeds distributed to members, marking a definitive pivot from ongoing operations to capital return.