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 a definitive agreement to acquire substantially all the assets of Fassio Egg Farms, Inc. (“Fassio”), related to its commercial shell egg production and processing business. The assets to be acquired, subject to the completion of this transaction, include commercial shell egg production and processing facilities with current capacity of approximately 1.2 million laying hens, primarily cage-free, feed mill, pullets, fertilizer production and composting operation and land located in Erda, Utah, outside Salt Lake City. The Company expects to close the transaction in the next few weeks, subject to customary closing conditions.
Commenting on the announcement, Sherman Miller, president and chief executive officer of Cal-Maine Foods, Inc., stated, “We are excited about the opportunity to expand our market presence in Utah and the western United States with the proposed acquisition of these assets from Fassio. The additional production capacity, especially for cage-free eggs, will enhance our ability to serve our valued customers in this important market area. Fassio has been a leader in the egg production business since 1915 and enjoys a solid reputation in the community. We look forward to working with the Fassio team as we extend our market reach and deliver greater value to both our customers and shareholders.”
