CALM News & Events

Cal-Maine Foods announced the acquisition of the shell egg, egg products, and prepared foods assets of Creighton Brothers, including Crystal Lake, for a total purchase price of approximately $128.5M, subject to customary post-closing adjustments. Cal-Maine Foods is funding the acquisition with available cash on hand. Established in 1925, Creighton Brothers produces, grades, and packages high-quality conventional and specialty shell eggs for retail and foodservice markets. Crystal Lake produces ready-to-use egg products for the foodservice and food manufacturing industries, including liquid, frozen, and hard-cooked eggs, and distributes pre-cooked egg patties, omelets, and scrambled eggs. Both companies are headquartered in Warsaw, Indiana, where Cal-Maine Foods previously had no shell egg operations. Creighton Brothers and Crystal Lake will be fully integrated into Cal-Maine Foods' existing operations, including its 177 employees.

Reports Q2 revenue $769.5M, consensus $826.39M. "Despite the impact of eggs prices, we believe our performance in the second quarter and first half of the fiscal year demonstrates strength and momentum. We delivered solid results compared to a prior year marked by supply-demand imbalances and historic price levels. With lower egg prices, our increasingly diversified business model, paired with disciplined execution, proved to be a source of resilience. In our view, this positions us as a rare combination of value and growth-an advantage poised to strengthen over time," said Sherman Miller, president and chief executive officer of Cal-Maine Foods. He continued, "Our specialty egg business maintained strong prices and volumes in the quarter and achieved higher sales dollars and volume in the first half of the fiscal year. With our recently announced expansions, we are positioning our prepared foods business to deliver sustained double-digit volume growth. We expect the ongoing sales mix shift across our portfolio, visible throughout the first half of the fiscal year, will enhance the durability and predictability of our earnings over time. This reflects the deliberate execution of our long-term strategy, and our results reinforce the strength of that approach as we continue to deliver operational and financial excellence," Miller said.