Cal-Maine Foods, Inc. Announces Acquisition of Feed Mill Operations in North Carolina

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[{"type":"text","content":" RIDGELAND, Miss.--(BUSINESS WIRE)--\nCal-Maine Foods, Inc. (NASDAQ: CALM) today announced that the Company has acquired certain assets of Deal-Rite Feeds, Inc. and its affiliated entities, including two feed mills, storage facilities, usable grain, vehicles, related equipment and retail feed sales business located in Statesville and Union Grove, North Carolina. The Company is funding the acquisition with available cash on hand.\n\n\nSherman Miller, president and chief executive officer of Cal-Maine Foods, Inc., said, “We are pleased to have the opportunity to acquire these feed mills and operations, which are strategically located in close proximity to our North Carolina shell egg production facilities. As we continue to expand contract production in this area, we also look for ways to effectively manage our production costs and drive efficiencies. Feed is a primary cost component in the production of shell eggs, and the quality and composition of feed are critical factors related to the health of our hens and the nutritional value of shell eggs. With the addition of these feed mill operations in North Carolina, we can formulate, produce and deliver feed at a lower cost with shorter travel required to reach the respective farms. We remain committed to our mission to be the most efficient and sustainable producer of fresh shell eggs and egg products, and we will look for additional opportunities to further support our growth strategy.”\n\n\nAbout Cal-Maine Foods\n\n\nCal-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 nation and sells most of its shell eggs throughout the majority of the United States.\n\n\nForward Looking Statements\n\n\nStatements 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...

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