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Slide #60. Flowers Foods, Inc. — Hostess Bread Brands And Bakeries
Acquirer:
Flowers Foods, Inc. (NYSE:FLO)
Acquiree:
Hostess Bread Brands And Bakeries
Details:
Flowers Foods, Inc. (NYSE: FLO) today confirmed that it has received regulatory approval pursuant to the Hart-Scott-Rodino Act to acquire the Wonder, Nature's Pride, Merita, Home Pride, and Butternut bread brands; 20 bakeries; and 36 depots from Old HB, Inc., formerly known as Hostess Brands. Flowers expects to complete the transaction in the coming weeks.
Flowers Foods is a producer and marketer of packaged bakery foods. Co.'s principal products include breads, buns, rolls, snack cakes, and tortillas and are sold under a variety of brand names, including Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, Tastykake, and Mrs. Freshley's. Co. also supplies national and regional restaurants, institutions and foodservice distributors, and retail in-store bakeries with breads and rolls; sells packaged bakery products to wholesale distributors for sale to a variety of food outlets; and sells packaged snack cakes to customers who distribute them nationwide through mass merchandisers, supermarkets, vending outlets and convenience stores.
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: FLO Stock Forecast Based on Zacks ABR data; powered by Xignite |