Cal-Maine Foods Announces Acquisition of Creighton Brothers LLC
Rhea-AI Summary
Cal-Maine Foods (NASDAQ: CALM) announced the acquisition of the shell egg, egg products, and prepared foods assets of Creighton Brothers LLC and Crystal Lake for approximately $128.5 million, funded with available cash on hand.
The assets add ~3.2 million laying-hen capacity (including 500,000 cage-free), 865,000 pullets, a feed mill, egg-products and hard-cooked processing, 1,007 acres, and 177 employees in Warsaw, Indiana, expanding Cal-Maine's geographic footprint and liquid-egg sourcing for prepared foods.
Positive
- $128.5M acquisition expands shell egg platform
- Adds 3.2M laying-hen capacity including 500k cage-free
- Adds nearby liquid egg capacity to support prepared foods margins
- Includes 1,007 acres, feed mill, and processing facilities
- Transaction funded with available cash (no immediate dilution)
Negative
- Uses approximately $128.5M cash, reducing liquidity available for other uses
News Market Reaction – CALM
On the day this news was published, CALM gained 0.56%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
While CALM was up about 0.45%, key farm-product peers like VITL (-2.12%), DOLE (-1.0%), FDP (-0.55%), TSN (-0.54%), and BG (-0.15%) were down, indicating stock-specific news impact rather than a sector-wide move.
Previous Acquisition Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| 2025-06-02 | Echo Lake acquisition | Positive | +0.3% | Closed Echo Lake Foods deal, expanding ready-to-eat egg and breakfast offerings. |
| 2025-02-03 | Feed mills acquisition | Positive | +0.9% | Bought Deal-Rite feed mills to lower feed costs near North Carolina farms. |
| 2024-06-28 | ISE America assets buy | Positive | +2.7% | Acquired ISE America egg assets, adding 4.7M hen capacity and new regions. |
| 2024-03-14 | Tyson assets deal | Positive | +0.0% | Completed acquisition of assets from Tyson Foods to broaden egg operations. |
Acquisition announcements have historically led to modestly positive reactions, with an average one-day move of about 0.98% across prior deals.
Over the past two years, Cal-Maine has repeatedly used acquisitions to expand production and value-added capacity. Prior deals included Echo Lake Foods for $258M (effective price $230M), ISE America’s egg assets for about $110M, and feed-mill assets in North Carolina funded with cash. These transactions added millions of laying hens, feed capacity, and prepared foods exposure. The new Creighton Brothers and Crystal Lake acquisition continues this bolt-on strategy within eggs and egg products.
Historical Comparison
In the past four acquisition announcements, CALM’s average one-day move was about 0.98%, suggesting investors have typically reacted with modest optimism to M&A news.
Acquisition activity has progressed from regional egg assets and feed mills to larger value-added platforms like Echo Lake, and now further shell egg and egg products capacity via Creighton Brothers and Crystal Lake.
Market Pulse Summary
This announcement adds another bolt-on acquisition to Cal-Maine’s strategy, with a $128.5 million all-cash deal for Creighton Brothers and Crystal Lake. The transaction brings capacity for about 3.2 million laying hens, including 500,000 cage-free, plus 865,000 pullets, a feed mill, and 1,007 acres of land. It also deepens internal sourcing for prepared foods. Investors may track integration progress, margin effects in egg products, and how this complements prior Echo Lake and ISE America deals.
AI-generated analysis. Not financial advice.
Expands Presence Across Integrated Portfolio, Broadens Geographic Footprint, and Advances Disciplined Capital Allocation Strategy
RIDGELAND, Miss., March 02, 2026 (GLOBE NEWSWIRE) -- Cal-Maine Foods, Inc. (NASDAQ: CALM), the largest egg company in the United States and a leading player in the egg-based food industry, today announced the acquisition of the shell egg, egg products, and prepared foods assets of Creighton Brothers LLC, including Crystal Lake LLC, for a total purchase price of approximately
Established in 1925, Creighton Brothers produces, grades, and packages high-quality conventional and specialty shell eggs for retail and foodservice markets. Crystal Lake produces ready-to-use egg products for the foodservice and food manufacturing industries, including liquid, frozen, and hard-cooked eggs, and distributes pre-cooked egg patties, omelets, and scrambled eggs. Both companies are headquartered in Warsaw, Indiana, where Cal-Maine Foods previously had no shell egg operations.
“The acquisition of Creighton Brothers and Crystal Lake advances our strategy by expanding the scale and geographic reach of our shell egg platform, across both specialty eggs and conventional eggs, adding meaningful growth to our portfolio. This incremental capacity strengthens our ability to align production with demand, better positioning us to consistently meet consumer expectations for choice, reliability, and affordability. Together with the Creighton Brothers and Crystal Lake team, we will build on the strong foundation already in place—combining our operational excellence, deep customer relationships, supply chain expertise, rigorous capital deployment, and robust systems to accelerate growth and unlock new opportunities,” said Sherman Miller, president and chief executive officer of Cal-Maine Foods.
“Importantly, with nearby liquid egg capacity, we further our internal sourcing strategy for key egg-based ingredients for our prepared foods business—strengthening supply security, improving margins, and driving greater operational efficiency. Together, these advantages compound over time and, guided by our disciplined, returns-focused approach, drive performance and create sustainable per-share value,” he continued.
The acquired assets include commercial shell egg production and grading with capacity of approximately 3.2 million laying hens, including 500,000 cage-free, and 865,000 pullets, a feed mill, 1,007 acres of land, as well as an egg products and hard-cooked egg processing facility.
Creighton Brothers and Crystal Lake will be fully integrated into Cal-Maine Foods’ existing operations, including its 177 employees. Mr. Miller commented, “We are proud to welcome this exceptional team to the Cal-Maine Foods family. Their high-quality operations reflect remarkable dedication and capability, and we look forward to achieving even greater success together.”
Mindy Truex, President of Creighton Brothers and Crystal Lake, stated, “With mixed personal emotions and great pride, I’m excited to see the legacy of Hobart and Russell Creighton and their families continue and grow with a new family at Cal-Maine. I believe our dedication to excellence and doing things right will mesh well and provide an example to follow for another 100 years.”
About Cal-Maine Foods
Cal-Maine Foods, Inc. (NASDAQ: CALM) is the largest egg company in the United States and a leading player in the egg-based food industry. With a strong national footprint, Cal-Maine Foods provides nutritious, affordable, and sustainable protein to millions of households every day.
The Company’s portfolio spans the full egg value ladder—from conventional to specialty, including cage-free, organic, brown, free-range, pasture-raised, and nutritionally enhanced—serving both retail and foodservice customers nationwide. Cal-Maine Foods also participates in the growing prepared foods sector, with offerings such as pre-cooked egg patties, omelets, folded and scrambled egg formats, hard-cooked eggs, pancakes, waffles, and specialty wraps. Its branded portfolio includes Eggland’s Best®, Land O’Lakes®, Farmhouse Eggs®, 4Grain®, Sunups®, Sunny Meadow®, MeadowCreek Foods®, and Crepini®.
Headquartered in Ridgeland, Mississippi, Cal-Maine’s strategy combines scale, operational excellence, and financial discipline with a commitment to innovation and sustainability, to enable the Company to deliver trusted nutrition, enduring partnerships, and long-term value for its stakeholders.
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, among others, (i) the risk factors set forth the Company’s SEC Filings (including its Annual Report on Form 10-K, as updated in Part II Item A of the Quarterly Reports on Form 10-Q and Current Reports on Form 8-K), (ii) the risks and hazards inherent in the shell egg, egg products, and prepared foods operations (including, as applicable, disease, pests, weather conditions, and potential for product recall), including but not limited to the current outbreak of HPAI affecting poultry in the U.S., Canada and other countries that was first detected in commercial flocks in the U.S. in November 2023 and that first impacted our flocks in December 2023, (iii) changes in the demand for and market prices of shell eggs and feed costs as well as increase in input costs for prepared foods, (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 recent or future acquisition of new flocks or businesses, such as our acquisition of Echo Lake Foods completed June 2, 2025, and risks or changes that may cause conditions to completing a pending acquisition not to be met, (vi) our ability to successfully integrate and manage recently acquired businesses like Echo Lake Foods and realize the expected benefits of such acquisitions, including synergies, cost savings, reduction in earnings volatility, margin expansion, financial returns, expanded customer relationships, or sales or growth opportunities, (vii) our ability to compete effectively with existing and new market entrants, retain existing customers, acquire new customers and grow our product mix including our prepared foods product offerings, (viii) the impacts and potential future impacts of government, customer and consumer reactions to recent high market prices for eggs, (ix) potential impacts to our business as a result of our Company ceasing to be a “controlled company” under the rules of The Nasdaq Stock Market on April 14, 2025, (x) risks relating to potential changes in inflation, interest rates and trade and tariff policies, (xi) adverse results in pending litigation and other legal matters, and (xii) global instability, including as a result of the war in Ukraine, the conflicts involving Israel and Iran, and attacks on shipping in the Red Sea. The Company’s 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, 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, we disclaim any intent or obligation to update publicly these forward-looking statements, whether because of new information, future events, or otherwise.
Contacts
Investors: ir@cmfoods.com
Media: media@cmfoods.com
Telephone: (601) 948-6813
FAQ
What did Cal-Maine (CALM) announce on March 2, 2026 regarding Creighton Brothers?
How much laying-hen capacity does the CALM acquisition add and what proportion is cage-free?
How is Cal-Maine funding the Creighton Brothers acquisition (CALM)?
What operational benefits does the Creighton Brothers deal provide for Cal-Maine (CALM)?
Will the Creighton Brothers and Crystal Lake teams join Cal-Maine after the acquisition (CALM)?
