Cal-Maine expands breakfast options with Van’s waffles acquisition

Cal-Maine Foods is expanding beyond its halfway eggs concern with the acquisition of the Van’s meal brands from Sara Lee Frozen Bakery.

After inking a woody past twelvemonth for US-based meal products shaper Echo Lake Foods, Cal-Maine is present buying up Van’s Foods, which manufactures gluten-free frozen waffles and pancakes.

“This acquisition is aimed astatine supporting Cal-Maine Foods’ strategy to diversify its concern model, turn successful prepared foods business-to-consumer (B2C) retail, and present greater worth crossed the proviso chain,” the Nasdaq-listed radical said successful a connection contiguous (12 May).

Cal-Maine added the acquisition volition boost its prepared foods yearly income by astir 10% and volumes by astir 6%, though the Mississippi-based radical did not uncover the fiscal presumption of the transaction.

Sherman Miller, the president and CEO of Cal-Maine, said: “We judge this acquisition volition further our diversification strategy by expanding our scope successful prepared foods consumer-facing retail.

“We spot meaningful opportunities to thrust growth, unlock efficiencies, and innovate successful ways that amended service our customers and consumers.”

Van’s operates successful the better-for-you segment, offering options successful waffles and pancakes specified arsenic macromolecule enhanced and whole-grain variants.

The marque sanction volition beryllium retained by Cal-Maine, which plans to standard the concern and supply caller innovation.

Van’s was portion of the woody struck by private-equity steadfast Kohlberg & Company, which acquired Sara Lee Frozen Bakery successful 2018 from US nutrient elephantine Tyson Foods. That transaction besides included the Sara Lee, Chef Pierre and Bistro Collection brands.

Peter Laport, who became CEO of Sara Lee Frozen Bakery earlier this year, said: “We made the determination to divest the marque to sharpen our absorption connected our beardown portfolio of halfway brands wherever we’re investing for the agelong term.

“Making disciplined decisions astir wherever we vie is portion of however we physique a better, much resilient business. We are assured Van’s is going to the close home, with an charismatic runway ahead, arsenic Cal-Maine brings complementary capabilities to accelerate its growth, peculiarly astir macromolecule and better-for-you nutrition.”

Away from prepared foods, Cal-Maine snapped up US-based ovum adjacent Creighton Brothers successful March. However, that woody besides included Crystal Lake, a shaper of ready-to-use ovum products specified arsenic ovum patties, omelettes and scrambled eggs.

"Cal-Maine expands meal options with Van’s waffles acquisition" was primitively created and published by Just Food, a GlobalData owned brand.

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