Cal-Maine Foods, Inc. Announces Agreement to Acquire Hillandale Companies.JACKSON Jackson. 1 City (1990 pop. 37,446), seat of Jackson co., S Mich., on the Grand River; inc. 1857. It is an industrial and commercial center in a farm region. , Miss. -- Cal-Maine Foods, Inc. (NASDAQ/NM:CALM) today announced that it has reached an agreement to acquire the operations of Hillandale Farms, Inc. and Hillandale Farms of Florida, Inc. The purchase agreement provides that most of the assets, liabilities and operations of the two Hillandale companies will be put into a new limited liability company. Cal-Maine will acquire 51 percent of the company immediately and purchase the remaining 49 percent over the next four years. Jack Hazen, founder and major shareholder of Hillandale, will continue to serve as chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the operations. Hillandale began operations in Florida over 30 years ago and is one of the major egg production and marketing companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Hillandale acquisition will increase Cal-Maine's egg production capacity by approximately 30 percent and provide a strong market presence in Florida, Georgia, and Alabama. Financial details of the transaction are not available at this time. Fred Adams Fred Adams is an American astrophysicist who has made contributions to the study of physical cosmology. Biography Fred Adams is professor of physics at the University of Michigan, where his main field of research is astrophysics theory focusing on star formation, , chairman and chief executive officer of Cal-Maine Foods, Inc., stated: "We are pleased to welcome the Hillandale group to the Cal-Maine team. We believe there are a number of important synergies between the two companies. This acquisition will allow us to give superior service to our customers located in the southeast." Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs. The Company, which is headquartered in Jackson, Mississippi Jackson is the capital and the most populous city of the U.S. State of Mississippi. It is one of the county seats of Hinds County; Raymond is the other county seat. As of the 2000 census Jackson's population was 184,256. , currently is the largest producer and distributor of fresh shell eggs in the United States and sells the majority of its shell eggs in approximately 28 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are subject to risks and uncertainties (contained in the Company's SEC filings) that could cause actual results to differ materially from those projected. SEC filings may be obtained from the SEC or by contacting the Company. |
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