Cal-Maine Foods Has Completed A Strategic Investment With Crepini, Establishing A New Egg Products And Prepared Foods Joint Venture; The New Entity, Will Operate As Crepini Foods. Cal-Maine Foods Will Capitalize Crepini With ~$6.75M In Cash To Purchase Additional Equipment And Other Assets And Fund Working Capital In Exchange For A 51% Interest In The New Venture
Portfolio Pulse from Benzinga Newsdesk
Cal-Maine Foods has completed a strategic investment with Crepini LLC, forming a new joint venture, Crepini Foods LLC. Cal-Maine will invest $6.75 million for a 51% stake, while Crepini LLC will hold 49%.
September 09, 2024 | 8:11 pm
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Cal-Maine Foods has formed a joint venture with Crepini LLC, investing $6.75 million for a 51% stake in Crepini Foods LLC. This strategic move could enhance Cal-Maine's product offerings and market reach.
The investment in Crepini Foods LLC allows Cal-Maine to expand its product line and market presence in the egg products and prepared foods sector. The 51% stake indicates a controlling interest, suggesting potential for significant influence and growth opportunities.
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