Cal-Maine Foods Acquires Egg Producer for $110M

Cal-Maine Foods Inc. has completed the acquisition of virtually all assets of ISE America Inc. and certain affiliates for approximately $110 million. 

Cal-Maine Foods is funding the acquisition with available cash. The acquired assets include commercial shell egg production and processing facilities with current capacity of approximately 4.7 million laying hens, including 1 million cage-free, and 1.2 million pullets, feed mills, approximately 4,000 acres of land, inventories, and an egg products-breaking facility. The acquired assets also include an extensive customer distribution network across the Northeast and Mid-Atlantic states, and production operations in MD, NJ, DE, and SC.

“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,” said Sherman Miller, president and chief executive officer of Cal-Maine Foods Inc. “The added production and distribution capabilities will allow us to serve new customers and expand capacity, particularly in the Northeast, which is largely a 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 honor this important legacy as we build new connections and customer relationships. Cal-Maine Foods has a strong record of driving value from our acquired operations with a proven operating model. We welcome the dedicated ISE operations team to the Cal-Maine Foods family and look forward to a successful integration. Working together, we have a unique opportunity to deliver greater value to both our customers and shareholders.”