Cal-Maine buys Pilgrim's egg production assets
Aug. 10, 2012
by Meat&Poultry Staff
JACKSON, Miss. – Cal-Maine Foods Inc. has closed on the acquisition of the commercial egg assets of Pilgrim’s Pride Corp. The assets include two production complexes located near Pittsburg, Texas, with a capacity for about 1.4 million laying hens. The transaction was first announced in July.
“Cal-Maine Foods is very pleased to announce this acquisition,” said Dolph Baker, president and CEO of Cal-Maine Foods Inc. after the deal was announced. “Pilgrim’s Pride has an excellent reputation and strong brand recognition with a well-established customer base. These production facilities will complement our existing operations in Texas, and the additional capacity will enhance our ability to serve customers in the Texas markets. We welcome this opportunity for the continued growth of our business and the ability to provide greater value for our customers and shareholders.”
Cal-Maine Foods, Inc. earned $89,735,000, equal to $3.56 per share on the common stock during the fiscal year ended June 2, up 47 percent from $60,839,000, or $2.55 per share, during the previous fiscal year.
Sales for fiscal 2012 were $1,113,116,000, up 18 percent from $941,981,000 during fiscal 2011.