Flowers Foods Closes Acquisition Of 20 Hostess Bakeries

(RTTNews) - Flowers Foods (FLO) said Monday it has closed its acquisition of bread assets, including 20 bakeries; the Wonder, Merita, Home Pride, Butternut, and Nature's Pride brands; and 36 depots from Old HB Inc. (formerly Hostess Brands). The adjusted purchase price was $355 million.

The acquisition of the Hostess bread assets strengthens Flowers Foods' position as the second-largest baker in the U.S. by adding brands and bakeries that will enhance the company's ability to steadily expand the geographic reach of its fresh breads, buns, rolls, and snack cakes into new markets.

"We will continue our methodical market expansion, re-introducing the newly acquired brands into markets we currently serve and into new markets as we steadily expand into new regions of the country," said CEO Allen Shiver.