Cal-Maine Foods to acquire egg assets
JACKSON, MISS. ― Cal-Maine Foods, Inc. has signed a letter of intent to acquire substantially all of the assets of Foodonics International, Inc. and its related entities doing business as Dixie Egg Co., Jacksonville, Fla. Financial terms of the transaction were not disclosed.
Under terms of the deal, Cal-Maine said it would acquire 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. Dixie Egg also has contract arrangements for an additional 1.5 million laying hens.
In addition, Cal-Maine Foods will acquire 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.
The transaction is expected to close in early October.
Cal-Maine Foods, Inc. primarily is engaged in the production, grading, packing and sale of fresh shell eggs, including conventional, cage-free, organic and nutritionally-enhanced eggs. The company 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.