This chapter starts with the presentation of two ACs selected as case studies, one from the UK, Farmway, and one from Spain, Anecoop. The cases reflect intense processes of consolidation in the AC sector through mergers and acquisitions. These farmer-owned companies are an example of the type of AC ranked in the top six in these countries in terms of turnover and size (see Chapter 2 for statistics) and, as such, are representative of the successful criteria for agricultural cooperation valued by the AC sector, national governments and at EU level. The chapter presents interview and document data categorised under the main themes that emerged from two types of actor: cooperative representatives and external experts (informants from government, industry AC representative bodies and civil society organisations).