US egg firm Cal-Maine Foods has struck a deal to buy the commercial egg business of poultry firm Pilgrim’s Pride.
Cal-Maine said today (18 July) the acquisition would include two production complexes that can house 1.4m laying hens.
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In March, Cal-Maine reported mixed nine-month results as feed costs weighed on its third-quarter results. However, operating profit and sales were still up in the first nine months of the year.
Pilgrim’s Pride recorded a loss of over US$496m in its last financial year, which ran until 25 December. The company has been looking to drive efficiency across its business and in May announced plans to cut jobs at a plant in Tennessee.
