Thomasville Times Enterprise

Local News

February 25, 2013

Flowers Foods completes acquisitions

THOMASVILLE — On Monday, Flowers Foods Inc. (NYSE: FLO) nnounced the completion of its acquisition of the perpetual, exclusive  and royalty-free licenses to the Sara Lee and Earthgrains brands for sliced breads, buns, and rolls in California from BBU Inc., a subsidiary of Grupo Bimbo S.A.B. de C.V. Financial terms of the transaction was not disclosed. On Oct. 26, 2012, Flowers announced that the United States Department of Justice had approved this agreement, along with a separate one for the acquisition of the perpetual, exclusive, and royalty-free license to the Earthgrains brand for fresh bakery products in the Oklahoma City, Okla., market area. The Oklahoma transaction was completed in 2012. Together with the California agreement, the brands generate approximately $134 million in annual sales. “Our team has been working to ensure a smooth transition of these brands in California. Now that the transaction has closed, the rollout of Sara Lee and Earthgrains products on our distribution routes will begin immediately in Southern California and continue northward in phases over the coming months,” said George E. Deese, Flowers Foods’ chairman of the board and CEO. This acquisition strengthens Flowers Foods’ market presence in California, adding about 14.5 million people to the 70 percemt of the U.S. population that currently has access to its fresh breads and rolls. 

1
Text Only
Local News
Business Marquee
House Ads
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
AP Video
Judge Ponders Overturning Colo. Gay Marriage Ban Airlines Halt Travel to Israel Amid Violence NYPD Chief Calls for 'use of Force' Retraining VA Nominee McDonald Goes Before Congress Bush: Don't Worry, Sugarland Isn't Breaking Up US Official: Most Migrant Children to Be Removed Police Probing Brooklyn Bridge Flag Switch CDC Head Concerned About a Post-antibiotic Era Raw: First Lady Says `Drink Up' More Water Courts Conflicted Over Healthcare Law Holder Urges Bipartisanship on Immigration Raw: Truck, Train Crash Leads to Fireball US Airlines Cancel Israel Flights Obama Signs Workforce Training Law Crash Victims' Remains Reach Ukraine-held City Diplomatic Push Intensifies to End War in Gaza Cat Fans Lap Up Feline Film Festival Michigan Plant's Goal: Flower and Die Veteran Creates Job During High Unemployment
Twitter Updates
Follow us on twitter
Poll

Do you believe Israel's invasion of Gaza is justified?

Yes
No
     View Results
Video
Sports Pulse
Must Read
Must Read