Food & Beverage M&A » By The Online Investor Staff, updated Sat., Feb. 27, 1:27 AM
Recent mergers and acquisitions in the Food & Beverage M&A category.
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Slide #78. Flowers Foods, Inc. — Sara Lee and Earthgrains Assets in California
Acquirer:
Flowers Foods, Inc. (NYSE:FLO)
Acquiree:
Sara Lee and Earthgrains Assets in California
Details:
Flowers Foods, Inc. (NYSE: FLO) today announced 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 the state of California from BBU, Inc., a subsidiary of Grupo Bimbo S.A.B. de C.V. Financial terms of the transaction was not disclosed.
Flowers Foods produces a range of breads, buns, rolls, snack cakes, and tortillas and is a producer and marketer of packaged bakery foods in the United States. Co. also sells returned and surplus product through a system of thrift stores. Co. 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 primarily to customers who distribute them nationwide through various channels of distribution, including merchandisers, supermarkets, vending outlets and convenience stores.
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Avg. Broker Rec.
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Hold (2.00 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Analysts' Target Price: FLO Stock Forecast Based on Zacks ABR data; powered by Xignite |
