“This type of transaction is a great example of the sophisticated transactional work in which Hangley Aronchick excels.”
Hangley Aronchick Segal Pudlin & Schiller represented Eggland’s Best, Inc. in the formation of a joint venture with Land O’Lakes, Inc. for the marketing and sale of branded, specialty eggs. Eggland’s Best is a cooperative that markets branded eggs, including America’s No. 1 egg, EGGLAND’S BEST®. Eggland’s Best and Land O’Lakes will each hold a 50 percent stake in the joint venture. The new joint venture will be called Eggland’s Best, LLC and will license both the Eggland’s Best and Land O’Lakes brands for specialty eggs. Current President and Chief Executive Officer, Charles T. Lanktree, and current Chief Financial Officer and Executive Vice President, Kurt Misialek, each of Eggland’s Best, Inc., will continue in the same roles with the new company.
“This type of transaction is a great example of the sophisticated transactional work in which Hangley Aronchick excels,” said Jack Kenney, shareholder. “This was a complex transaction involving many hours of negotiation and documentation.”
Mr. Lanktree noted, “Increasingly, consumers are looking for healthy choices in their diet – and eggs provide a high-protein, low-fat option. This is a growing food category, and we believe that by joining forces, Land O’Lakes and Eggland’s Best can serve our customers, our consumers and our franchisees even more effectively.”
The Hangley Aronchick team was led by shareholder Jack Kenney with help from associate Michele Sacks Fenkel.
