Sector News

Cal-Maine Foods to acquire egg production assets of Happy Hen Egg Farms

February 10, 2017
Food & Drink

Cal-Maine Foods, Inc. today announced that it has reached a definitive agreement to acquire substantially all of the assets of Happy Hen Egg Farms, Inc., relating to their commercial production, processing, distribution and sale of shell eggs business.

The assets to be acquired, subject to the completion of this transaction, include commercial egg production and processing facilities with current capacity for approximately 350,000 laying hens and related distribution facilities located near Harwood and Wharton, Texas. The Company expects to close the transaction in the next few weeks.

Commenting on the announcement, Dolph Baker, chairman, president and chief executive officer of Cal-Maine Foods, Inc., said, “We are pleased to announce the acquisition of Happy Hen Egg Farms. Located near our other Texas locations, Happy Hen Egg Farms’ current site is designed for capacity of up to 1.2 million laying hens, and we intend to capitalize on specific market opportunities created by this additional production capacity. This proposed transaction is commensurate with our strategy to expand our business through selective acquisitions. We look forward to the opportunity to extend our market reach and deliver greater value to both our customers and shareholders.”

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.

Source: Street Insider

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