July 19, 2012

Cal-Maine to acquire Pilgrim's Pride egg business

US egg firm, Cal-Maine, will be acquiring the commercial egg business of poultry company, Pilgrim's Pride, including the acquisition of two production complexes that can house 1.4 million laying hens.

In March, Cal-Maine reported mixed nine-month results as feed costs weighed on its third-quarter results. However, operating profit and sales were still up in the first nine months of the year.

Pilgrim's Pride recorded a loss of over US$496 million in its last financial year, which ran until December 25. The company has been looking to drive efficiency across its business and in May, announced plans to cut jobs at a plant in Tennessee.