- Jul 1, 2024
- 1 min read
Cal-Maine Foods has acquired the majority of ISE America’s assets and certain affiliates for around $110 million, funded with available cash.
The acquisition includes commercial shell egg production and processing facilities with a capacity of approximately 4.7 million laying hens, including 1 million cage-free and 1.2 million pullets. It also comprises feed mills, approximately 4,000 acres of land, inventories and an egg products breaking facility.
Additionally, Cal-Maine now gains access to a customer distribution network in the Northeast and Mid-Atlantic states, with operations in Maryland, New Jersey, Delaware and South Carolina.
Sherman Miller, president and chief executive officer of Cal-Maine Foods, said: “We are excited about the opportunity to significantly enhance our market reach in the Northeast and Mid-Atlantic states with the acquisition of these assets from ISE. The added production and distribution capabilities will allow us to serve new customers and expand capacity, particularly in the Northeast, which is largely new territory for Cal-Maine Foods."
"We are also acquiring production assets for the first time in Maryland, New Jersey and Delaware. ISE has a long history in the egg production business and enjoys a solid reputation in the marketplace. We will continue to honour this important legacy as we build new connections and customer relationships...Working together, we have a unique opportunity to deliver greater value to both our customers and shareholders.”
