Cal-Maine buys remaining interest in Delta Egg Farm
by MBJ Staff
Published: February 18,2014
JACKSON — Cal-Maine Foods Inc. has reached an agreement to acquire 50 percent of the membership interests of Delta Egg Farm, LLC from Sunbest Foods of Iowa Inc., a Moark, LLC affiliate.
Cal-Maine currently owns the remaining 50 percent of Delta Egg Farm, so the entity will become a wholly owned subsidiary of the company.
Pursuant to this agreement, Cal-Maine Foods will purchase the membership interests for a total of $17 million.
Delta Egg Farm owns and operates a feed mill and egg production complex with capacity for approximately 1.2 million laying hens, located near Delta, Utah, and an organic egg production complex with capacity for approximately 400,000 laying hens located near Chase, Kan.
Cal-Maine expects to close the transaction effective March 1.
Dolph Baker, chairman, president and chief executive officer of Cal-Maine, said, “While we have enjoyed a long-term working relationship with Moark and Sunbest Foods of Iowa, we are excited about the opportunity to take over the ownership and management of Delta Egg Farm, LLC.”
Cal-Maine 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, 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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Chris McDaniel gets a thank you note from Travis Childers
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- UPDATED: House subcommittee tosses discrimination elements from religious freedom bill
- States settle with manufacturers in DRAM price-fixing case
- Quapaw Canoe Company gains legislative support in battle with tax department
- Reactive Surfaces files lawsuit against Toyota in patent dispute
- The link between education and economic development
- Irby commits suicide after wife's prison release
- District at Eastover takes shape with financing in place, tenant signings under way