California-based private equity firm AGR Partners, in strategic partnership with Rose Acre Farms and Weaver Brothers, has created Opal Foods which has purchased Moark’s Midwest egg production assets. The farms acquired through the deal are among the most modern in the country and have been renovated to meet California’s pending production regulations. Annual revenue for the Colorado and Missouri operations is expected to exceed $200 million. Opal Foods’ headquarters will be in Neosho, Missouri and will retain the 250 Midwest Moark employees. Rose Acre Farms and Weaver Brothers are both family-owned shell egg producers that will assist the management of Opal Foods to meet the market’s growing consumer demand for protein. Opal Foods will be a franchisee of Eggland’s Best and will continue to be a supplier of the same customer base.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service