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Stock impact report

Cal-Maine to buy breakfast foods manufacturer for $258M [Yahoo! Finance]

Cal-Maine Foods, Inc. (CALM) 
Last cal-maine foods, inc. earnings: 1/5 06:30 am Check Earnings Report
US:NASDAQ Investor Relations: calmainefoods.com/investors
Company Research Source: Yahoo! Finance
Cal-Maine, the largest egg producer in the U.S., said it will acquire breakfast foods maker Echo Lake Foods for $258 million as the company looks to offer consumers more than just cartons of eggs. Burlington, Wisconsin-based Echo Lake Foods manufactures ready-to-eat egg products in addition to breakfast foods like waffles, pancakes, scrambled eggs, frozen cooked omelets and more. Cal-Maine said the transaction allows it to access the “growing and highly stable value-added food portion of the egg category.” Last September, Cal-Maine entered a joint venture with egg wrap maker Crepini in a bid to expand its portfolio. As egg prices remain volatile, Cal-Maine is looking to grow its presence in processed foods and other spaces considered more financially stable. “Our shell egg business will remain the core of Cal-Maine Foods, but we are excited to diversify our product mix, reduce financial volatility and add another growth opportunity to the Company with the proposed Echo Lake F Show less Read more
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