Atlanta's Cagle's Foods to be sold

ATLANTA - Cagle&#39;s, Inc. today released results for its 13 weeks and 39 weeks ended <br> December 29, 2001 and at the same time announced the sale of Cagle Foods to Excecutive Holdings.<br> <br> Revenue for the 13 weeks and 39 weeks ended December 29, 2001 was substantially increased due to the added production from the new Perry<br> processing facility, however the added cost associated with the new plant start-up and continued weak market prices for boneless breast meat and tenders (major volume items) and the heavy interest cost for debt incurred with capital projects of the past two years were a major contributor to the Company&#39;s continued losses in the 3rd fiscal quarter.<br> <br> Revenues for the 13 week and 39 week periods ended December 29, 2001 increased by 44.02% and 28.71% as compared to corresponding periods of a year ago. This increase is attributed to the additional production, approximately 29% more eviscerated pounds for the 39 week period ended December 29, 2001 compared to a year ago and 36.16% more pounds in the 13 week period ended December 29, 2001 as compared to the 13 weeks ended December 30, 2000. <br> <br> Also announced today, Cagle&#39;s, Inc. has agreed to sell its interest in Cagle Foods JV, L.L.C. to Executive Holdings, L.P., for $50,000,000. The closing is expected to occur within 90 days or when all necessary approvals have been obtained.<br>

http://accesswdun.com/article/2002/2/198826