By Katherine Hamilton
Cal-Maine Foods is acquiring a Vermont egg product maker for $258 million.
Cal-Maine, a producer of shell eggs, said Tuesday it signed a definitive agreement to buy Echo Lake Foods, which produces, packages and distributes ready-to-eat egg products and breakfast foods such as waffles and scrambled eggs.
The deal would help Cal-Maine enter a new portion of the egg category and reduce earnings volatility, the Ridgeland, Miss., company said.
Cal-Maine Chief Executive Sherman Miller said the company is looking to diversify its product mix as it deals with shortages related to an avian-flu outbreak.
Both companies have approved the transaction and expect it to close by the end of fiscal 2025. Cal-Maine plans to pay in cash that it has on hand, it said.
Echo had annual revenue of $240 million in 2024.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 08, 2025 17:26 ET (21:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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