By Connor Hart
Cal-Maine Foods said it has purchased two feed mills in North Carolina from Deal-Rite Feeds.
The Ridgeland, Miss., egg producer said Monday the mills will allow it to formulate, produce and deliver feed to its hens at a lower cost, with shorter travel required to reach its farms. That's because the mills, located in Statesville and Union Grove, are strategically located close to the company's egg-production facilities, according to Chief Executive Sherman Miller.
The company didn't disclose terms of the deal but said the buy will be funded with available cash on hand.
In addition to the two mills, the purchase includes storage facilities, usable grain, vehicles, related equipment and retail feed sales business, the company said.
"As we continue to expand contract production in this area, we also look for ways to effectively manage our production costs and drive efficiencies," Miller said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 03, 2025 19:02 ET (00:02 GMT)
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