Exhibit 99.1
-END-
Contacts:
Sherman Miller, President and CEO
Max P. Bowman, Vice President and CFO
(601) 948-6813
CAL-MAINE FOODS, INC. COMPLETES ACQUISITION OF
EGG PRODUCTION ASSETS OF FASSIO EGG FARMS, INC.
RIDGELAND, Miss. (October
4, 2023)
―
Cal-Maine Foods, Inc.
(NASDAQ: CALM) (“Cal-Maine
Foods” or
the
“Company”),
the
largest
producer
and
distributor
of
fresh
shell
eggs
in
the
United
States,
today
announced it has closed the
previously announced acquisition of substantially all
the assets of Fassio
Egg
Farms, Inc.,
related to
its commercial
shell egg
production and
processing business.
The acquired
assets
include commercial shell
egg production
and processing facilities
with current capacity
of approximately
1.2 million
laying hens,
primarily cage-free,
feed mill,
pullets, fertilizer
production and
land located
in Erda,
Utah, outside Salt Lake City.
About Cal-Maine Foods
Cal-Maine Foods, Inc.
is primarily engaged
in the production,
grading, packaging, marketing
and
distribution
of
fresh
shell
eggs,
including
conventional,
cage-free,
organic,
brown,
free-range,
pasture-
raised and nutritionally enhanced eggs.
The Company, which is
headquartered in Ridgeland, 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.
Forward Looking Statements
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), including but
not
limited to
the
most
recent
outbreak
of
highly
pathogenic
avian
influenza affecting
poultry
in
the
U.S.,
Canada and
other countries
that was
first detected
in commercial
flocks in
the U.S.
in February
2022, (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, (vi)
risks
relating to
increased costs
and higher
and
potentially further
increases in inflation and interest
rates, which began in response to
market conditions caused in part by
the
COVID-19 pandemic
and which
generally have
been exacerbated
by the
Russia-Ukraine war
that began
in
February 2022,
(vii) our
ability to
retain existing customers,
acquire new customers
and grow
our product
mix, and (viii) 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.