Cal-Maine Foods, Inc. Completes Acquisition of Assets from Tyson Foods, Inc.
14 Marzo 2024 - 9:45PM
Business Wire
Cal-Maine Foods, Inc. (NASDAQ: CALM) (“Cal-Maine Foods” or the
“Company”), the largest producer and distributor of fresh shell
eggs in the United States, today announced it has completed the
previously announced acquisition of a broiler processing plant,
hatchery and feed mill in Dexter, Missouri, that were closed by
Tyson Foods, Inc. (NYSE: TSN) (“Tyson”) in 2023. The Company plans
to remodel and repurpose the assets for use in shell egg and egg
products production.
Sherman Miller, president and chief executive officer of
Cal-Maine Foods, Inc., stated, “We are pleased to join the Dexter
community and are excited about the opportunities to expand our
operations. We intend to partner with the existing strong network
of local contract growers who can support our shell egg production
capabilities. Dexter’s central geographic location and strong work
force will enhance our supply and distribution capabilities for
customers in Missouri and surrounding markets. Importantly, we will
also benefit from closer proximity to sources for our primary feed
ingredients. We look forward to the new production opportunities,
including the potential for additional free-range capacity, in this
new community and market for Cal-Maine Foods.”
About Cal-Maine Foods
Cal-Maine Foods, Inc. is primarily engaged in the production,
grading, packaging, marketing and distribution of fresh shell eggs,
including conventional, cage-free, organic, brown, free-range,
pasture-raised and nutritionally enhanced eggs. The Company, which
is headquartered in Ridgeland, 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.
Forward Looking Statements
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), including but not limited to the most recent outbreak of
highly pathogenic avian influenza affecting poultry in the U.S.,
Canada and other countries that was first detected in commercial
flocks in the U.S. in February 2022 and that first impacted our
flocks in December 2023, (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 risks or changes that
may cause conditions to completing a pending acquisition not to be
met, (vi) risks relating to increased costs, and higher and
potentially further increases in inflation and interest rates,
(vii) our ability to retain existing customers, acquire new
customers and grow our product mix, (viii) adverse results in
pending litigation matters, (ix) global instability including as a
result of the wars in Ukraine and Israel and attacks on shipping in
the Red Sea, and (x) any potential resurgence of COVID-19. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240314968262/en/
Sherman Miller, President and CEO Max P. Bowman, Vice President
and CFO (601) 948-6813
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