Faced with recurring revenue difficulties, French agricultural cooperatives have opted for diversification. There is little research on the success factors of their strategies in this area, which hinders their understanding. Based on resource theory, the authors identify four main diversification strategies for agricultural cooperatives. They show that their success depends on the ability of the parent cooperative to identify the resources and skills it can draw on to build a value-creating strategy. They also underline the steering difficulties that these strategies generate for the elected leaders. Such difficulties can result in a loss of control and influence.