03:17 AM EDT, 09/10/2024 (MT Newswires) -- Cal-Maine Foods ( CALM ) said late Monday it has closed a deal with Crepini to form a new egg products and prepared foods joint venture.

Under the deal, Cal-Maine will infuse about $6.8 million in cash to the joint venture for a 51% interest, while Crepini will contribute its existing assets and business for the remaining 49% stake.

The new entity in Hopewell Junction, New York will operate as Crepini Foods.