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Source: Land O'Lakes news release

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Powered by growth in core businesses and the unification with United Suppliers, Land O'Lakes, Inc. today reported record net earnings for the year ending Dec. 31, 2016.

The company reported a record $320 million in net earnings on $13.2 billion in sales and returned a record $187 million in cash to its member-owners. This compares to net earnings of $304 million and cash to its member-owners of $161 million in 2015.

"We are pleased with another record year, particularly under current market conditions, and appreciate the dedication of our workforce and the support of our farmer owners," said Land O'Lakes, Inc. President and CEO Chris Policinski. "We attribute our continued strong performance to our 'marketplace back' approach to doing business, which is different from the production orientation of many of our competitors. Our strategy is based on deeply understanding what our consumers, customers and farmers need to be successful and developing innovative, value-added products--and increasingly services--to meet those needs. We know that our success depends on their success."

Land O'Lakes, Inc. currently touches 50 percent of the harvested acres and 25 percent of the producers in the nation through its independent retail-owner network and strives to serve as the voice of the farmer for its farmer-owners.

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