February 10, 2017
Cal-Maine Foods to acquire egg production assets of Happy Hen Egg Farms
Cal-Maine Foods, Inc. announced that it has reached a definitive agreement to acquire substantially all of assets of Happy Hen Egg Farms, Inc., relating to their commercial production, processing, distribution and sale of shell eggs business.
The 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, US. Cal-Maine expects to close the transaction in the next few weeks.
Commenting on the announcement, Dolph Baker, chairman, president and chief executive officer of Cal-Maine Foods, Inc., said: "We are pleased to announce the acquisition of Happy Hen Egg Farms. Located near our other Texas locations, Happy Hen Egg Farms' current site is designed for capacity of up to 1.2 million laying hens, and we intend to capitalise on specific market opportunities created by this additional production capacity. This proposed transaction is commensurate with our strategy to expand our business through selective acquisitions. We look forward to the opportunity to extend our market reach and deliver greater value to both our customers and shareholders."