National Cooperative Bank has released its annual NCB Co-op 100 report, ranking the nation’s top 100 revenue-earning cooperative businesses, which reported a combined $309 billion in revenue for 2025. Six grocery cooperatives made the list, together accounting for $32.3 billion, while agriculture cooperatives, many of them familiar names on grocery shelves, dominated the ranking with 45 companies generating $156.2 billion.
“The NCB Co-op 100 showcases the remarkable scale and reach of the cooperative economy,” said Casey Fannon, president and CEO of National Cooperative Bank. “These businesses represent a wide range of industries, but they share a common commitment to creating value for their members and strengthening the communities they serve.”
The grocery cooperatives
- Wakefern Food Corp./ShopRite, Keasbey, New Jersey, led by President and CEO Mike Stigers — $13.1 billion, ranking fifth overall, the highest-ranked grocery cooperative
- Associated Wholesale Grocers, Kansas City, Kansas, led by CEO Dan Funk — $12.2 billion, ranking sixth
- Associated Food Stores, Salt Lake City, led by CEO David Rice — $2.8 billion, ranking 21st
- URM Stores, Spokane, Washington, led by CEO Roger White — $1.7 billion, ranking 37th
- Affiliated Foods, Amarillo, Texas, led by CEO Randy Arceneaux — $1.7 billion, ranking 40th
- Associated Grocers Inc., Baton Rouge, Louisiana, led by CEO David Politz — $745 million, ranking 96th
Agriculture cooperatives with grocery ties
Agriculture led the list with 45 cooperatives, topped by CHS Inc. of Inver Grove Heights, Minnesota (CEO Jay Debertin), at $35.5 billion, and Dairy Farmers of America of Kansas City, Kansas (CEO Dennis Rodenbaugh), at $23.1 billion. Land O’Lakes (CEO Beth Ford) ranked third overall at $16.4 billion, and Growmark (CEO Mark Orr) ranked seventh at $10.9 billion.
Dairy cooperatives were heavily represented: Prairie Farms Dairy (CEO Matt McClelland, $4.7 billion, 14th), California Dairies (CEO Robert Vandenheusel, $4.1 billion, 15th), Select Milk Producers (CEO Rance Miles, $3.3 billion, 17th), Darigold (CEO Amy Humphreys, $2.3 billion, 26th), Foremost Farms USA (CEO Brenda DeHart, $1.7 billion, 39th), Michigan Milk Producers Association (CEO Joe Diglio, $1.5 billion, 49th), Associated Milk Producers (CEO Sheryl Meshke, $1.3 billion, 56th), Organic Valley (CEO Shawna Nelson, $1.3 billion, 60th), Maola Local Dairies (CEO Jon Cowell, $1.2 billion, 65th), Agri-Mark/Cabot Creamery (CEO David Lynn, $1.2 billion, 70th) and Bongards’ Creameries (CEO Dennis Thomas, $953 million, 80th).
Other shelf-familiar names include Ocean Spray (CEO Tom Hayes, $2.1 billion, 30th), Tillamook Creamery (CEO David Booth, $1.4 billion, 54th), American Crystal Sugar (CEO Thomas Astrup, $2.3 billion, 27th), Blue Diamond Growers (CEO Kai Bockmann, $1.5 billion, 47th), Riceland Foods (CEO Kevin McGilton, $1.2 billion, 69th) and canned-fruit supplier Pacific Coast Producers (CEO Matt Strong, $1.1 billion, 74th).
Elsewhere on the list, finance placed 25 cooperatives led by Navy Federal Credit Union (fourth at $15.1 billion), while Ace Hardware ranked ninth and REI 16th.
Released each October during National Co-op Month, the NCB Co-op 100 is the only annual report tracking the performance of cooperative businesses across sectors. This year’s report also highlighted the Co-op Innovation Awards, now in their 12th year, with an expanded award pool sponsored in part by National Co-op Grocers.
Related: Wakefern Marks 80 Years, Reports $21.5B In Retail Sales At Annual Meeting