In a December 3rd announcement, Cal-Maine Foods Inc. (CALM) announced investment of $15 million in Echo Lake Foods. Capital assigned will allow installation of equipment for scrambled egg production, consolidating this process in an efficient plant with an output of 17 million pounds annually. Previously Cal-Maine Foods committed $15 million to a high-speed pancake line with an ultimate capacity of 12 million pounds. Joint venture Crepini Foods will receive $7 million through fiscal 2028 to add 18 million pounds to annual production over a two-year period.
The combined investment will increase production capacity of further-processed high-value egg products by 30 percent over the proximal two years. This is consistent with the dominant position of Cal-Maine Foods as the U.S. and the world’s largest producer of shell eggs.
In announcing the expansion and the appointment of Jonathan Zoeller as CFO of Prepared Foods and the promotion of Dave Jordan to president of Echo Lake Foods, CEO Sherman Miller noted, “These prepared foods investments are a critical component of our multi-year plan to strengthen mid-cycle earnings, enhance portfolio resilience and capture accelerated demand for high-protein, ready-to-eat convenience formats.” Miller added, “By investing in our facilities and building an exceptional leadership team we believe we can create a bigger, stronger, more capable prepared foods platform for the years ahead.”