Cal-Maine Foods Inc 8-K, filed Oct 4, 2021
Cal-Maine Foods Inc (CALM)
8-K
2021-10-04
For: 2021-10-04
View Original
Added on
April 11, 2026
About this 8-K
Cal-Maine Foods Inc filed this 8-K on October 4, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
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WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 8.01 – Other Events
On October 1, 2021, the Company issued a press release announcing the Company’s Board of Directors has approved a strategic
investment that will specialize in high value commercial product solutions targeting specific needs in the food industry. The initial
focus will include hard-cooked and extended shelf-life egg product lines. The new entity, located in Neosho, Missouri, will operate
as MeadowCreek Foods, LLC. The Company will retain a controlling interest in the venture. A copy of the Company’s press
release is attached hereto as Exhibit 99.1 to this Current Report.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number
Description
104
Cover Page Interactive Data File, (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements for the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
CAL-MAINE FOODS, INC.
Date:
October 4, 2021
By:
/s/ Max P. Bowman
Max P. Bowman
Director, Vice President, and Chief Financial Officer
Exhibit 99.1
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Contacts:
Dolph Baker, Chairman and CEO
Max P. Bowman, Vice President and CFO
(601) 948-6813
CAL-MAINE FOODS, INC. ANNOUNCES STRATEGIC INVESTMENT
IN NEW EGG PRODUCTS MANUFACTURING COMPANY
RIDGELAND, Miss. (October 4, 2021)
—
Cal-Maine Foods, Inc. (NASDAQ: CALM) today announced
the Company’s Board of Directors has approved a strategic investment that will specialize in high
value commercial product solutions targeting specific needs in the food industry. The initial focus
will include hard-cooked and extended shelf-life egg product lines. The new entity, located in
Neosho, Missouri, will operate as MeadowCreek Foods, LLC (“MeadowCreek”).
Cal-Maine Foods will capitalize MeadowCreek with up to $18.5 million in debt and equity to
purchase property and equipment and to fund working capital. Cal-Maine Foods will retain a
controlling interest in the venture. The MeadowCreek management team will be led by Ronald B.
Bennett. Cal-Maine Foods will serve as the preferred provider to supply specialty and conventional
eggs that MeadowCreek needs to manufacture egg products. MeadowCreek’s marketing plan will
expand Cal-Maine Food’s reach in the foodservice and retail marketplace and bring new
opportunities in the restaurant, institutional and industrial food products arena.
Bennett, who will serve as President of MeadowCreek, brings 30 years of egg industry
experience to the new venture. Bennett most recently joined with DeJong Operational Management
& Consulting to create, develop, and install operational improvements and solutions to high value
ready-to-eat food and biotech companies. Previously, he served as Chief Operating Officer of Prime
Foods from 2011 - 2019. Bennett also served as Director of Egg Products at Moark, LLC, which he
joined in 1998. Bennett began his career in the egg products division of Cal-Maine Foods in 1991.
Commenting on the announcement, Dolph Baker, chairman and chief executive officer of
Cal-Maine Foods, Inc., stated, “We are pleased to announce our strategic investment in
MeadowCreek, which provides Cal-Maine Foods an opportunity to not only grow our presence in
the egg products sector, but position ourselves to better seek out solutions for economically feeding
a growing world population. While approximately 30 percent of produced eggs are currently
directed to further processing in the U.S., as specialty eggs become more popular, we see the
demand for more specialty egg products including cage-free products, to provide for industrial,
food service and retail needs. We believe MeadowCreek will play an important role in meeting this
demand and look forward to our partnership with Ronald and his operations team in support of this
venture.”
Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing, marketing
and sale of fresh shell eggs, including conventional, cage-free, organic, pasture-raised, free range
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.
Statements contained in this press release that are not historical facts are forward-looking
statements as that term is defined in the Private Securities Litigation Reform Act of 1995. The
forward-looking statements are based on management’s current intent, belief, expectations,
estimates and projections regarding our company and our industry. These statements are not
guarantees of future performance and involve risks, uncertainties, assumptions and other
factors that are difficult to predict and may be beyond our control. The factors that could cause
actual results to differ materially from those projected in the forward-looking statements include,
among others, (i) the risk factors set forth in the Company’s SEC filings (including its Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K), (ii) the
risks and hazards inherent in the shell egg business (including disease, pests, weather
Cal-Maine Foods, Inc. Announces Strategic Investment in New Egg Products Manufacturing
Company
Page 2
October 4, 2021
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conditions and potential for recall), (iii) changes in the demand for and market prices of shell eggs
and feed costs, (iv) our ability to predict and meet demand for cage-free and other specialty eggs,
(v) risks, changes or obligations that could result from our future acquisition of new flocks or
businesses and risks or changes that may cause conditions to completing a pending acquisition not
to be met,(vi) risks relating to the evolving COVID-19 pandemic, and (vii) adverse results in pending
litigation matters. SEC filings may be obtained from the SEC or the Company’s website,
www.calmainefoods.com. Readers are cautioned not to place undue reliance on forward-looking
statements because, while we believe the assumptions on which the forward-looking statements are
based are reasonable, there can be no assurance that these forward-looking statements will prove
to be accurate. Further, the forward-looking statements included herein are only made as of the
respective dates thereof, or if no date is stated, as of the date hereof. Except as otherwise required
by law, we disclaim any intent or obligation to publicly update these forward-looking statements,
whether as a result of new information, future events or otherwise.