QUICK LINKS: Videos  |  Micromarkets |

Redemption Report

|

Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Date Book

Search:      

Bookmark this site




Issue Date: Vol. 52, No. 6, June 2012, Posted On: 5/31/2012


Flowers Foods To Acquire Lepage Bakeries For $370M


Emily Jed
Emily@vendingtimes.net
Flowers Foods, Lepage Bakeries, direct-store-delivery, Mrs. Freshley's, Nature's Own, Tastykake, vending machine snacks, vending pastries, Country Kitchen, Barowsky

THOMASVILLE, GA -- Flowers Foods Inc., maker of Mrs. Freshley's pastries, a popular item in vending, has agreed to buy Lepage Bakeries Inc. for $370 million.

The deal includes two bakeries and a direct-store-delivery platform that Flowers said will speed the expansion of its Nature's Own and Tastykake brands in the Northeast. The Thomasville, GA, company expects the deal to grow its direct-store-delivery access from 64% to 70% of the U.S. population.

Lepage Bakeries, based in Auburn, ME, makes breads, buns and rolls under the regional Country Kitchen and Barowsky's brands.

The company will operate under its current name as a subsidiary of Flowers Foods's DSD segment. Lepage's current president and chief executive Andy Barowsky and chairman Albert Lepage will continue to lead their company as co-chairmen.

Under the terms of the deal, Flowers will pay $300 million in cash and $50 million in stock for LePage. The agreement also calls for a total of $20 million in deferred cash payments that begin on fourth anniversary of the agreement. The sale is expected to close during Flowers' fiscal second quarter.

The Lepage purchase follows Flowers Foods $165 million acquisition of Philadelphia-based Tastykake last year. | READ STORY


Topic: Vending Features

Articles:
  • Technology, Novel Styles And Sizes Enhance Visual Appeal Of 2016's Vending Machines
  • Fitbit Acquires Coin's Wearable Payment Assets; Popular Smart Watches Could Double As Mobile Wallets
  • Interstate United Corp. Founder Donn Chappellet Dies At 84
  • USI's Jim Chico, Gold Medalist Amanda Katchka And Celebrity Trainer Sarah Kusch Join Grow Healthy Vending Advisory Board
  • Apriva Completes Additional EMV Certifications For iOS And Android

Copyright © 2016 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570