Arctic Cold Storage: Agribusiness Finance Solutions
A central Minnesota business is aiding the food chain by making its cold storage facility an integral stop from farm to table.
Arctic Cold Storage, a transportation and logistics center in St. Cloud, receives fresh and frozen food deliveries before distribution. The company can switch from freezer to cooler in as little as five days — an impressive feat for a warehouse covering 275,000 square feet of refrigeration space and managing nearly 150 trucks daily.
Arctic Cold Storage is a complex business operation that works with companies of all sizes, from small businesses to Fortune 500 companies, to store their products after they leave the processing plant but before they reach grocery store shelves or restaurant kitchens. The team ensures all products are maintained at the required temperatures, meticulously recording all expiration dates to account for travel time and rotating stock out of storage every seven to 14 days.
The business was founded in the 1990s by Jeff and Julie Condon, although Jeff’s parents started a version of the company, selling popcorn from a liquor store basement in the 1950s. Today, the company has expanded from humble beginnings to employing 125 people and storing 28,000 pallets of product.
Employees Turned Family
“What keeps our employees here is the family environment,” said Jessica Jones, human resources manager at Arctic Cold Storage. “Our team is our greatest asset.”
Longtime employee and general manager Brian Kunkel, who has been with the company since 2005, echoed Jones’ statement.
“The family gets to know you, and it’s a great feeling to come to work and be part of a team,” noted Kunkel. “Safety is number one at Arctic Cold Storage. Knowing that I can come here and be safe while I’m working is really important.”
Kunkel adds that the Condons have invested in sophisticated technologies to improve process flows and efficiency. Arctic Cold Storage has integrated significant technology, including advanced warehouse and dock management systems, and robotic forklifts that assist in unloading trucks. He emphasizes that staying ahead of the tech curve is crucial in their industry, and they consistently strive to maintain this edge.
Jones, the Condons’ oldest daughter, works alongside her brother Jay Condon, vice president of operations, who attributes the company’s decades of success to its employees and industry partners.
“Being a smaller organization allows us to put technology in place faster than some other cold storage facilities,” Jay said. “To be successful in this industry, you need a good team around you and good financial partners.”
Importance of Financial Partnerships
Arctic Cold Storage has partnered with Compeer Financial since 2005. Troy Mostaert, VP of food and agribusiness at Compeer says the cooperative understands the intricacies of agribusiness financing and has an experienced team that can provide unique support and perspectives.
“Compeer has been very good to us,” said Jeff Condon, president at Arctic Cold Storage. “They’ve always listened and gone the extra step.”
As he looks back over his tenure with Arctic Cold Storage, Jeff says the company’s success wouldn’t be possible without the many individuals it takes to run the business.
“Our business is growing quite nicely, and we’ve been blessed with great partnerships and customers along the way,” he said. “People don’t realize how important the agricultural industry is. The grocery wholesalers and the truck drivers . . . without these people, we wouldn’t be eating or going to restaurants like we do now. This is an incredibly important industry.”
Arctic Cold Storage is set to expand its product drop lot, and Jeff hopes to see the building double in size in the future.
“We’ve worked hard to put this company together, but it wasn’t just the Condon family,” he said. “It was a lot of people. I love to see people grow, and our team is growing stronger every day.”
From the field to the grocery store, Compeer finances farm families and agribusinesses along the food value chain.
This article was taken from the 2024 fall edition of Cultivate. Read more from this issue here.
Food Processing and Logistics
Learn more about the food processing, transportation and storage industry.
Food and Agribusiness Financing
At Compeer Financial, we understand the vital role that rural communities and their businesses and infrastructure contribute to our nation’s economic health.