1. Business Transition Planning: Receiving Generation

2. 2010 Young Farmer & Rancher Excellence in Agriculture Award

4. A Brief History That was then… Original homestead: 1814 Vale Wood Farms: 1933 This is now… 5 th and 6 th generation 35 full-time, 15 part-time employees

5. Dairy Processing Plant Dairy Farm Route Sales Direct Marketing From Moo to You!

6. Dairy Farm Our commitment to quality dairy products begins with our commitment to a healthy, happy herd of dairy cows Farm 500 acres Milk 200 cows, 2x 85lbs milk, 110 SCC FARM participant Level 6 Johne’s-free

7. Dairy Processing Plant Process a full line of dairy products Milk from ours and 3 other local farms Manage supply and demand GMPs, HACCP plan, FSMA Inspected by PDA, DEP, FDA

8. Route Sales Wholesale accounts Home delivery accounts “The customer is always right!” Pricing, administration, collections

9. Direct Marketing Farm events and Dairy Store sales On-farm Dairy Store Educational farm tours for school groups Farm-to-fork dinner Pumpkin Patch, hayride tours Social media outreach – “like” us!

10. The Power of Social Media

11. Generation One Generation One 1933: Sole Proprietorship 1933: Sole Proprietorship Generation Two Partnership Generation Three Generation Three S-Corp S-Corp Generation Four Generation Four Business Structure

12. Transition Planning False starts 2005: Consultant 1 2007: Consultant 2 2009: Consultant 3 Current effort 2012: Mike Hosterman, Ag Choice 2015: Holding company with by-laws established with our attorney, accountant. Awaiting business plan. Hint. Hint.

13. Transition Planning: Receiving Our Challenges: Dynamic business and dynamic family: Generation Three: 8 people ages 68-56 Generation Four: 17 people ages 41-13 Generation Five: 19 people ages 17-6mo Need a dynamic plan – simple yet adaptable Moving forward, there is no 3 vs 4 – just US

14. Transition Planning: Receiving My Challenges: Giver generation Is very male Special listening skills required Lots of ratchet help…but not much planning assistance May retire but aren’t going anywhere Think budget is the “b” word Have high expectations I hope I can deliver

15. Transition Planning: Receiving My Challenges: Receiving generation Is very male Production-oriented Have ideas…LOTS of ideas… Varying work experience and education Part-time participation and ownership options Have high expectations I hope I can deliver

16. Carissa Itle Westrick Director of Business Development Vale Wood Farms 800-861-MILK www.valewoodfarms.com carissa@valewoodfarms.com