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CAL-MAINE FOODS ACQUIRES PILGRIM'S PRIDE'S EGG OPERATIONS
Jul. 19, 2012
Source: Cal-Maine Foods news release
Cal-Maine Foods, Inc. (NASDAQ: CALM) today announced that the Company has reached an agreement to acquire the commercial egg operations of Pilgrim's Pride Corporation (NYSE: PPC).
The assets to be purchased by Cal-Maine Foods include two production complexes with capacity for approximately 1.4 million laying hens and adjacent land located near Pittsburg, Texas. The Company expects to close the transaction in August 2012.
Commenting on the announcement, Dolph Baker, president and chief executive officer of Cal-Maine Foods, Inc., said, "Cal-Maine Foods is very pleased to announce this acquisition. Pilgrim's Pride has an excellent reputation and strong brand recognition with a well-established customer base. These production facilities will complement our existing operations in Texas and the additional capacity will enhance our ability to serve our customers in the Texas markets.
"We welcome this opportunity for the continued growth of our business and the ability to provide greater value for our customers and shareholders."
About Cal-Maine Foods
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 approximately 29 states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.
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