Cal-Maine Foods announced that it has invested US$6.75 million in egg product and prepared food company Crepini LLC, located in Hopewell Junction, New York.
Cal-Maine said the investment will be used to purchase additional equipment and other assets. Additionally, the investment will give the egg producer 51% interest in the new venture. Crepini will continue to operate as Crepini Foods LLC and contribute its existing assets and business.
Crepini currently serves the U.S. and Mexico markets with egg wraps, protein pancakes, crepes and protein wrap-ups through an online channel and in over 3,500 retail stores.
Commenting on the new investment, Cal-Maine Foods President and Chief Executive Officer Sherman Miller stated: “We are pleased to announce our strategic investment in Crepini, which aligns with our growth strategy to enhance our product portfolio and focus on value-added products and other egg product opportunities. We have a unique opportunity to leverage the established Crepini brand of quality products and extend our market reach to major retailers across the country.”
Miller continued: “This new venture will complement our other egg product offerings from our growing Meadowcreek operation, which offers hard-cooked eggs for institutional, food service and retail needs. As consumer demand for affordable protein options, including egg products, continues to grow, Cal-Maine Foods is well positioned to meet this demand.”
Crepini Chief Executive Officer Paula Rimer Shkolnik added, “This partnership will allow us to make our products available to more national and international customers and continue to provide innovations in the egg specialty products category.”
Cal-Maine’s last egg product investment
The last egg product company that Cal-Maine invested in was MeadowCreek Foods in 2021, located in Neosho, Missouri.
The egg producer invested $18.5 million in the company, which produces hard-cooked and extended shelf-life egg products. Through the venture, Cal-Maine became the preferred supplier for the MeadowCreek manufacturer, providing conventional and specialty eggs.
