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OPAL FOODS ACQUIRES MOARK'S MIDWEST EGG PRODUCTION ASSETS
Source: Opal Foods news release

Opal Foods, an entity created by AGR Partners, in association with Rose Acre Farms and Weaver Brothers, has purchased Moark's Midwest egg production assets.

Opal Foods expects annual revenues to exceed $200 million with its operations in Missouri and Colorado, as well as a new cage-free farm in Neosho. Many of the farms purchased were recently renovated to comply with California's future production standards, and some will be among the most modern in the country.

Opal Foods' company headquarters will be in Neosho, Missouri, and the company will retain all 250+ employees previously employed by Moark in the Midwest. Opal Foods will be a franchisee of Eggland's Best and will continue serving the same customers.

Jerry Welch, general manager of Opal Foods said, "Opal Foods is proud to continue to supply customers with the highest quality eggs to help meet the category's strong and growing demand. Opal Foods' stewardship will provide its customers and end consumers with a sustainable source of protein and valuable nutrition for years to come."

Opal Foods is interested in growth opportunities in egg production operations and recognizes the shift to healthier diets as a catalyst to the growth of the egg industry, as individuals and restaurants embrace the trend to increase protein consumption and expand breakfast and lunch menus that include eggs.

AGR Partners pursues non-controlling investments and seeks to partner with best-in-class management teams and business owners. Rose Acre Farms and Weaver Brothers are strategic partners in the creation of Opal Foods.

The partners will assist Opal Foods and its management team in building an industry leader in the production and distribution of fresh eggs that meet the nation's needs for a healthy source of protein.

Ejnar Knudsen, managing member of AGR Partners and a director of Opal Foods said, "The AGR team is grateful to be working with such a strong team in Opal, supported by great partners with all the resources and expertise from their respective organizations."

For further details on the investment, see AGR's case study.


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