Farmer-owned Dakota Ethanol of South Dakota is merging with Countryside Renewable Energy of Iowa.

Under the proposed merger announced this week, Dakota Ethanol owners Lake Area Corn Processors would exchange 100 percent of its ownership for a combination of cash and equity shares in Countryside.

According to a press release, Dakota Ethanol board member Brian Woldt said the company has been successful in the eight years it has been operating.

“But we also know that our members are always looking to move forward,” Woldt said. “We have entered into this process with Countryside to become part of a larger ethanol production organization which we believe will help us to improve profitability, our competitive position and our long-term prospects.”