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Re: CALM - Cal-Maine Foods Inc
Cal-Maine Foods has signed an agreement to acquire the majority of the assets of Zephyr Egg Company.
The assets to be purchased by Cal-Maine include approximately two million laying hens in modern, in-line facilities, pullet growing facilities, two egg processing plants, a feed mill and a fleet of delivery trucks for both eggs and feed.
In addition, the company will acquire the Eggland's Best franchise for southern Florida, certain flocks of contract laying hens, and Zephyr's interest in American Egg Products in which Cal-Maine already has a majority interest. The company expects to close the transaction by the end of June 2008.
Fred Adams, Jr, chairman and CEO of Cal-Maine Foods, said: "The Zephyr Egg operations have an excellent reputation, efficient operations and a well-established customer base. This acquisition will complement our existing operations in Florida and allow us to enhance service to our existing customers and attract additional customers in Florida and other southeastern markets."
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