Food & Beverage M&A » By The Online Investor Staff, updated Tue., Mar. 9, 2:09 AM
Recent mergers and acquisitions in the Food & Beverage M&A category.
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Slide #84. Flowers Foods, Inc. — Certain Hostess Bread Brands and Bakeries
Acquirer:
Flowers Foods, Inc. (NYSE:FLO)
Acquiree:
Certain Hostess Bread Brands and Bakeries
Details:
Flowers Foods, Inc. announced it has signed two asset purchase agreements with Hostess Brands, Inc. as the "stalking horse bidder" for certain Hostess assets. One of the agreements provides for the purchase by Flowers of the Wonder, Nature's Pride, Merita, Home Pride and Butternut bread brands; 20 bakeries; and approximately 38 depots for a purchase price of $360 million. The other agreement provides for the purchase by Flowers of the Beefsteak brand for $30 million.
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 |
