Cal-Maine Foods Acquires ISE America Assets for $110 million

Cal-Maine Foods Announces Facility Acquisition — Photo by Jakub Kapusnak on Unsplash

Cal-Maine Foods, Inc. has acquired 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 a capacity of approximately 4.7 million laying hens, including one 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 a 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,” says Sherman Miller, president and CEO 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.”