Golden Oval Eggs has completed the purchase of shell egg company MoArk’s liquid egg processing assets for an undisclosed cash fee, a three-year note, a brand licensing agreement and a shell egg supply agreement.
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All five MoArk liquid egg products processing facilities, with two based in California, and other locations in Ohio, Alabama and Missouri, will change hands in the deal.
Golden Oval Eggs president and CEO Dana Persson said: “This expansion into the further processed egg products business is consistent with Golden Oval’s ongoing business strategies, particularly as they relate to growth.
“The increased size, scale and market presence resulting from this acquisition will position us to provide greater value to shareholders and a wider range of high-quality products and services to our customers.”
MoArk, a wholly-owned subsidiary of dairy firm Land O’Lakes, will continue to operate in the shell egg business after the transaction is complete.
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By GlobalDataMoArk president and CEO Craig Willardson said: “We’ve had a successful business relationship with Golden Oval Eggs for several years. Our experience working with Golden Oval gives us confidence that this transaction will be a positive move for both our organisations.”
