CALM 8-K
Cal-Maine Foods Inc (CALM)
8-K
2025-06-02
For: 2025-06-02
View Original
Added on
April 11, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events
On June 2, 2025, Cal-Maine Foods, Inc. (the “Company”) issued a press release announcing it has closed the previously
announced acquisition of Echo Lake Foods, LLC (formerly Echo Lake Foods, Inc.) and certain related companies
(collectively “Echo Lake Foods”). Echo Lake Foods produces, packages, markets and distributes ready-to-eat egg products
and breakfast foods, including waffles, pancakes, scrambled eggs, frozen cooked omelets, egg patties, toast and diced eggs.
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:
June 2, 2025
By:
/s/ Max P. Bowman
Max P. Bowman
Director, Vice President, and Chief Financial Officer
Exhibit 99.1
-MORE-
Contacts:
Sherman Miller, President and CEO
Max P. Bowman, Vice President and CFO
(601) 948-6813
CAL-MAINE FOODS CLOSES ACQUISITION OF ECHO LAKE FOODS
RIDGELAND, Miss. (June 2, 2025)
—
“Company”), today announced the closing of its acquisition of Echo Lake Foods.
The Company announced in April that it signed a definitive agreement to acquire Echo Lake Foods in an
all-cash transaction for approximately $258 million, which is expected to provide a tax benefit of ~$28
million equating to an effective purchase price of ~$230 million. Echo Lake Foods produces, packages,
markets and distributes ready-to-eat egg products and breakfast foods, including waffles, pancakes,
scrambled eggs, frozen cooked omelets, egg patties, toast and diced eggs. Echo Lake Foods had annual
revenues of approximately $240 million in 2024 with a five-year CAGR of approximately 10%.
Highlights of the Transaction:
Compelling Strategic Rationale
●
Allows Cal-Maine Foods to enter the large, growing and highly stable value-added food portion of
the egg category
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Expands strategic customer relationships with retail, quick service restaurant and other food service
customers
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Leverages Cal-Maine Foods’ extensive sales and supply chain distribution capabilities
Attractive Financial Returns
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Provides access to additional long-term growth opportunities while reducing earnings volatility
●
Estimated potential $15 million annual synergy opportunity driven by egg purchasing efficiencies
and SG&A savings
●
Expected mid-single digit percentage accretion to EPS (including synergies) in FY2026.
Sherman Miller, president and chief executive officer of Cal-Maine Foods, stated, “The addition of Echo
Lake Foods advances our stated strategy to expand and diversify our product portfolio and customer mix.
Echo Lake Foods is a leading innovator with a long history of providing quality ready-to-eat egg products
and breakfast foods to a blue-chip customer base. The combined product lines and capabilities of the two
companies are highly complementary and, importantly, we share similar values of pursuing operating
excellence and meeting the needs of our customers.
“The acquisition of Echo Lake Foods meets our disciplined set of investment criteria, including relevant
geographic markets, operating synergies, product mix, proximity to customers and expected financial
returns. The Echo Lake Foods team has built a terrific business and we look forward to working together
on a successful integration, delivering on a unique opportunity for our customers and shareholders, and
welcoming Kathy Brodhagen to our leadership team and Echo Lake employees to the Cal-Maine Foods
family,” added Miller.
Goldman Sachs & Co LLC is serving as Cal-Maine Foods, Inc.’s exclusive financial advisor while Sidley
Austin LLP is serving as its lead legal advisor.
Cal-Maine Foods Completes Acquisition of Echo Lake Foods
Page 2
June 2, 2025
-END-
About Cal-Maine Foods
Cal-Maine Foods, Inc. is primarily engaged in the production, packaging, marketing and distribution of
fresh shell eggs, including conventional, cage-free, organic, brown, free-range, pasture-raised and
nutritionally enhanced eggs, as well as a variety of ready-to-eat egg products. The Company, which is
headquartered in Ridgeland, Mississippi, is the largest producer and distributor of fresh shell eggs in the
nation and sells most of its shell eggs throughout the majority of the United States.
Forward Looking Statements
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 the following, among others:
The announcement and completion of our recent Echo Lake Foods acquisition could affect the
relationships of the Company (including Echo Lake Foods), with its customers, suppliers, operating
results and business generally, including the ability of the Company to retain employees, including in its
Echo Lake Foods unit. Also, the Company may experience unexpected challenges in integrating and
managing the business of Echo Lake Foods. As a result, integrating Echo Lake Foods’ business may be
more costly or time consuming than expected.
Even if the business of Echo Lake Foods is successfully integrated, the Company may not realize the
benefits it expects from the acquisition, including the synergies, cost savings, earnings accretion,
reduction in earnings volatility, return of equity, margin expansion, financial returns, tax benefits,
expanded customer relationships, or sales or growth opportunities.
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 made only as of the respective dates thereof, or if no date is stated, as of
the date hereof. Except as otherwise required by law, the Company disclaims any intent or obligation to
publicly update these forward-looking statements, whether because of new information, future events,
or otherwise.