We present a simple, general energy functional for ferromagnetic materials based upon a local spin density extension to the Stoner theory of itinerant ferromagnetism. The functional reproduces well available ab initio results and experimental interfacial energies for grain boundaries in iron. The model shows that inter-granular cohesion along symmetric tilt boundaries in iron is dependent upon strong magnetic structure at the interface, illuminates the mechanisms underlying this structure, and provides a simple explanation for relaxation of the atomic structure at these boundaries.