Cal-Maine Foods, Inc. Takes Over ISE America, Inc. in $110 Million Acquisition
NEWBERRY – Cal-Maine Foods, Inc., a leading producer and distributor of fresh eggs in the U.S., in a major business move, has announced the acquisition of the assets of ISE America, Inc. along with certain affiliates. The deal, worth approximately $110 million, was financed using readily available cash by Cal-Maine Foods.
Expansive Acquisition Strategically Enhances Market Reach
The purchased portion of ISE’s assets includes commercial shell egg production and processing facilities that house approximately 4.7 million laying hens. Included in the acquisition are about one million cage-free and 1.2 million pullets. Further assets acquired by Cal-Maine Foods are feed mills, around 4,000 acres of land, inventories, and an egg products breaking facility.
In addition, the acquisition includes a customer distribution network that spans across the Northeast and Mid-Atlantic states, and production operations in Maryland, New Jersey, Delaware, and South Carolina.
Adding to the Excitement Surrounding the Acquisition
Sherman Miller, the President and CEO of Cal-Maine Foods, enthused over the acquisition, “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.”
Miller went on to outline the benefits the acquisition affords; “The added production and distribution capabilities will allow us to serve new customers and expand capacity, particularly in the Northeast. This area is largely a new territory for Cal-Maine Foods.”
The CEO also noted that this acquisition introduces Cal-Maine Foods to markets in Maryland, New Jersey, and Delaware where they are purchasing production assets for the first time.
“ISE has a long history in the egg production business and enjoys a solid reputation in the marketplace. We will continue to honor this important legacy as we build new connections and customer relationships”, said Miller.
Streamlining Business Operations for Greater Market Value
Cal-Maine Foods has a well-established track record of successfully leveraging value from their previous acquisitions using a proven business model. Miller stated his eagerness to welcome the dedicated ISE operations team to the Cal-Maine Foods family, confident that the integration will be successful. As he concluded, “Working together, we have a unique opportunity to deliver greater value to both our customers and shareholders.”
All information provided in this news post is based on announcements made by both the involved companies, Cal-Maine Foods, Inc. and ISE America, Inc. Content is presented by HERE News Network.
