Cal-Maine Foods, Inc. Closes Acquisition of Egg Production Assets of Happy Hen Egg Farms, Inc.
04 March 2017 - 6:00AM
Business Wire
Cal-Maine Foods, Inc. (NASDAQ: CALM) today announced that it has
closed the previously announced acquisition of substantially all of
the assets of Happy Hen Egg Farms, Inc. and affiliates, relating to
their commercial production, processing, distribution and sale of
shell eggs business. The acquired assets 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. Happy Hen Egg
Farms’ current site is designed for capacity of up to 1.2 million
laying hens.
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.
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),
(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 (vi) 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170303005697/en/
Cal-Maine Foods, Inc.Dolph Baker, 601-948-6813Chairman,
President and CEOorTimothy A. Dawson, 601-948-6813Vice President
and CFO
Cal Maine Foods (NASDAQ:CALM)
Historical Stock Chart
From Apr 2024 to May 2024
Cal Maine Foods (NASDAQ:CALM)
Historical Stock Chart
From May 2023 to May 2024