Benzinga | May 12, 2021 04:15PM EDT

Cal-Maine Foods, Inc. Acquires Remaining Interest In Red River Valley Egg Farm, LLC For $48.5M

Cal-Maine Foods, Inc. (NASDAQ:CALM) today announced that the Company has reached a definitive agreement to purchase the remaining 50 percent membership interest in Red River Valley Egg Farm, LLC from Rose Acre Farms, Inc. The entity will become a wholly owned subsidiary of the Company. The purchase price is $48.5 million for the balance of the joint venture's membership interests. Red River Valley Egg Farm, LLC owns and operates a specialty shell egg production complex with approximately 1.7 million laying hens, pullet capacity, feed mill, processing plant, related offices and outbuildings and related equipment located on approximately 400 acres near Bogata, Texas. The Company expects to close the transaction by the end of the month, subject to customary closing conditions.