Cal-Maine Foods acquires ISE America egg production assets
The assets cost the company approximately $110 million
1 July 2024
1 minute read
By: Cal-Maine Foods announced last week that it has completed the acquisition of substantially all the assets of ISE America, Inc. and certain affiliates for approximately $110 million.
Cal-Maine Foods is funding the acquisition with available cash on hand. The acquired ISE assets include commercial shell egg production and processing facilities with current capacity of approximately 4.7 million laying hens, including 1.0 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 Maryland, New Jersey, Delaware and South Carolina.
“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. "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," Miller added. "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."
