Golden Oval Eggs Purchases MoArk Egg Products Processing Assets

Renville, MN - Golden Oval Eggs, LLC and MoArk, LLC announced the completion of Golden Oval's purchase of MoArk's liquid egg processing assets. The purchase agreement - which includes cash, a three-year note, a brand licensing agreement and a shell egg supply agreement - was initially announced in late May. Additional details of the transaction are available in Land O'Lakes 8K filing dated June 30, 2006, at www.sec.gov.

The transaction involves all five MoArk liquid egg products processing facilities, associated inventory, and other related assets. The facilities are located in Norco and Vernon, California; Millersburg, Ohio; Abbeville, Alabama; and Neosho, Missouri.

"This expansion into the further processed egg products business is consistent with Golden Oval's ongoing business strategies, particularly as they relate to growth," said Dana Persson, President and Chief Executive Officer of Golden Oval Eggs, LLC. "The increased size, scale and market presence resulting from this acquisition will position us to provide greater value to shareholders and a wider range of high-quality products and services to our customers."

MoArk President and Chief Executive Officer Craig Willardson said Golden Oval's solid reputation in the industry and MoArk's past business relationship with Golden Oval were positive factors in the transaction.

"We've had a successful business relationship with Golden Oval Eggs for several years," Willardson said. "Our experience working with Golden Oval gave us confidence that this transaction, and our new relationship as a shell egg supplier to Golden Oval, will generate new opportunities and contribute to the success of both our organizations."

In a previous release, Golden Oval's leadership indicated that, "Customers can expect business as usual and a seamless transition."

SOURCE: Golden Oval Eggs