Cal-Maine Foods, Inc. Closes Acquisition of Egg Production Assets of Foodonics International
November 02 2016 - 6:32PM
Business Wire
Cal-Maine Foods, Inc. (NASDAQ: CALM) today announced that it has
closed the previously announced acquisition of substantially all of
the assets of Foodonics International, Inc. and its related
entities doing business as Dixie Egg Company, relating to their
commercial production, processing, distribution and sale of shell
eggs business. The acquired assets include commercial egg
production and processing facilities with capacity for
approximately 1.6 million laying hens and related feed production,
milling and distribution facilities in Georgia, Alabama and
Florida, as well as contract grower arrangements for an additional
1.5 million laying hens. With the completion of this transaction,
Cal-Maine Foods has also acquired the Egg-Land’s Best, Inc.
franchise with licensing rights for portions of certain markets in
Alabama, Florida and Georgia as well as Puerto Rico, Bahamas and
Cuba.
Cal-Maine Foods, Inc. is primarily engaged in the production,
grading, packing and sale of fresh shell eggs, including
conventional, cage-free, organic and nutritionally-enhanced eggs.
The Company, which is headquartered in Jackson,
Mississippi, is the largest producer and distributor of fresh shell
eggs in the United States and sells the majority of
its shell eggs in states across the southwestern, southeastern,
mid-western and mid-Atlantic regions of the United States.
Statements contained in this press release that are not
historical facts are forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995.
The forward-looking statements are based on management’s current
intent, belief, expectations, estimates and projections regarding
our company and our industry. These statements are not guarantees
of future performance and involve risks, uncertainties, assumptions
and other factors that are difficult to predict and may be
beyond our control. The factors that could cause actual results to
differ materially from those projected in the forward-looking
statements include, among others, (i) the risk factors set forth in
the Company’s SEC filings (including its Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K), (ii) the risks and hazards
inherent in the shell egg business (including disease, pests,
weather conditions and potential for recall),
(iii) changes in the demand for and market prices of shell
eggs and feed costs, (iv) our ability to predict and meet demand
for cage-free and other specialty eggs, (v) risks, changes or
obligations that could result from our future acquisition of
new flocks or businesses and risks or changes that may cause
conditions to completing a pending acquisition not to be met, and
(vi) adverse results in pending litigation matters. SEC
filings may be obtained from the SEC or the Company’s
website, www.calmainefoods.com. Readers are cautioned not to
place undue reliance on forward-looking statements because,
while we believe the assumptions on which the
forward-looking statements are based are reasonable, there can
be no assurance that these forward-looking statements will prove to
be accurate. Further, the forward-looking
statements included herein are only made as of the respective
dates thereof, or if no date is stated, as of the date
hereof. Except as otherwise required by law, we disclaim any
intent or obligation to publicly update these forward-looking
statements, whether as a result of new information, future
events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20161102006889/en/
Cal-Maine Foods, Inc.Dolph Baker, 601-948-6813Chairman,
President and CEOorTimothy A. Dawson, 601-948-6813Vice President
and CFO
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