Cal-Maine - taken full control of Texas operation
US egg processor Cal-Maine Foods is to pay US$48.5m to purchase the remaining 50% interest in Texas-based Red River Valley Egg Farm.
The deal sees Red River become a wholly-owned subsidiary of Cal-Maine, which previously owned half of the business.
Red River Valley Egg Farm owns and operates a shell egg production complex with approximately 1.7 million laying hens, pullet capacity, feed mill and processing plant, on approximately 400 acres near Bogata, Texas.
Dolph Baker, chairman and chief executive officer of Cal-Maine, said: We have enjoyed a good working relationship with Rose Acre Farms since we formed this partnership and are pleased to assume full ownership of Red River Valley Egg Farm.
Cal-Maine Foods, Inc. has announced that the company has reached a definitive agreement to purchase the remaining 50 percent membership interest in Red River Valley Egg Farm, LLC from Rose Acre Farms, Inc.
The entity will become a wholly owned subsidiary of the company. The purchase price is $48.5 million for the balance of the joint ventureâs membership interests. Red River Valley Egg Farm, LLC owns and operates a specialty shell egg production complex with approximately 1.7 million laying hens, pullet capacity, feed mill, processing plant, related offices and outbuildings and related equipment located on approximately 400 acres near Bogata, Texas. The Company expects to close the transaction by the end of the month, subject to customary closing conditions.
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May 13, 2021
Cal-Maine Foods Inc. has reached a definitive agreement to purchase the remaining 50% membership interest in Red River Valley Egg Farm LLC from Rose Acre Farms Inc. The entity will become a wholly owned subsidiary of the company. The purchase price is $48.5 million for the balance of the joint venture’s membership interests.
Red River Valley Egg Farm owns and operates a specialty shell egg production complex with approximately 1.7 million laying hens, pullet capacity, feed mill, processing plant, related offices and outbuildings and related equipment located on approximately 400 acres near Bogata, Texas. The company expects to close the transaction by the end of the month, subject to customary closing conditions.