US: Moark announces expansion of egg operations
Moark, LLC has agreed to a long-term lease arrangement for the assets of three Maine egg producers, commonly referred to as Quality Egg of New England LLC, Dorothy Egg Farm LLC, and Mountain Hollow Farms LLC. This transaction is expected to close shortly, based on customary closing conditions.
Moark is a major marketer, distributor, processor and producer of fresh shell eggs and egg products. Under the lease arrangement, Moark will be the sole operator of the egg production, processing and warehousing operations (as well as a feed mill) owned by the companies, which are located in Turner, Leeds, and Winthrop, Maine. At the end of the 10-year lease period, Moark will have the option of purchasing the facilities. Financial terms of the arrangement were not disclosed.
Craig Willardson, President of Moark, said: "This expansion enables Moark to better serve customers in the Northeastern United States. It complements our existing operations by adding approximately 3.6 million layers, and it provides greater access to a growing market for eggs. This will benefit our customers, the Maine-based employees, and the Maine economy."
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