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Cal-Maine Foods, Inc. Partners with Crepini LLC to Establish New Egg Products Joint Venture

Sep 09, 2024•over 1 year ago

Contract Type

partnership

RidgelandFood and BeverageAgriculture and FarmingFood And BeverageRetailFarming

Description

Cal-Maine Foods, Inc. has completed a strategic investment with Crepini LLC to establish a new egg products and prepared foods joint venture, named Crepini Foods LLC. Cal-Maine Foods will provide approximately $6.75 million in cash to support the venture, in exchange for a 51% interest. Crepini LLC will contribute its existing assets and business in exchange for a 49% interest.

Company Information

Company

Cal-Maine Foods

Location

Ridgeland, Mississippi, United States

About

Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packaging, marketing and distribution of fresh shell eggs, including conventional, cage-free, organic, brown, free-range, pasture-raised and nutritionally enhanced eggs. The Company, which is headquartered in Ridgeland, Mississippi, is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in states across the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States.

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Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months