THOMASVILLE, Ga., Feb. 21,
2025 /PRNewswire/ -- Flowers Foods, Inc. (NYSE: FLO)
today announced that it has completed the acquisition of Simple
Mills, a market-leading natural brand offering premium
better-for-you crackers, cookies, snack bars, and baking mixes.
"The addition of Simple Mills to our brand portfolio increases
our presence in better-for-you and attractive snacking segments,
diversifies our category exposure, and enhances our growth and
margin prospects," said Ryals McMullian, chairman and CEO of
Flowers Foods. "We look forward to supporting the Simple Mills team
as they embark on a new phase of growth by broadening distribution,
accelerating innovation, and amplifying brand awareness, while
advancing their mission."
About Flowers Foods
Headquartered in Thomasville,
Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest
producers of packaged bakery foods in the
United States with 2024 net sales of $5.1 billion. Flowers operates bakeries across
the country that produce a wide range of bakery products. Among the
company's top brands are Nature's Own, Dave's Killer
Bread, Wonder, Canyon Bakehouse, and Tastykake.
Learn more at www.flowersfoods.com.
About Simple Mills
Founded in 2012, Simple Mills is a leading provider of
better-for-you crackers, cookies, snack bars, and baking mixes made
with simple and nutritious high-quality ingredients that deliver
extraordinary taste. The Company has disrupted center-aisle grocery
categories to become the leading cracker, cookie, and baking mix
brand in the natural channel, and the leading natural cracker
brand in MULO with distribution in over 30,000 stores nationwide.
Its mission is to revolutionize the way food is made to nourish
people and planet. For more information, visit
www.simplemills.com.
FLO-CORP FLO-IR
Forward-Looking Statements
Statements contained in this press release and certain other
written or oral statements made from time to time by Flowers Foods,
Inc. (the "company", "Flowers Foods", "Flowers", "us", "we", or
"our") and its representatives that are not historical facts are
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. Forward-looking statements relate to
current expectations regarding our business and our future
financial condition and results of operations and are often
identified by the use of words and phrases such as "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "should," "will," "would," "is
likely to," "is expected to" or "will continue," or the negative of
these terms or other comparable terminology. These forward-looking
statements are based upon assumptions we believe are reasonable.
Forward-looking statements are based on current information and are
subject to risks and uncertainties that could cause our actual
results to differ materially from those projected. Certain factors
that may cause actual results, performance, liquidity, and
achievements to differ materially from those projected are
discussed in our Annual Report on Form 10-K for the year ended
December 28, 2024 (the "Form 10-K")
and may include, but are not limited to, (a) unexpected changes in
any of the following: (1) general economic and business conditions;
(2) the competitive setting in which we operate, including
advertising or promotional strategies by us or our competitors, as
well as changes in consumer demand; (3) interest rates and other
terms available to us on our borrowings; (4) supply chain
conditions and any related impact on energy and raw materials costs
and availability and hedging counter-party risks; (5) relationships
with or increased costs related to our employees and third-party
service providers; (6) laws and regulations (including
environmental and health-related issues and the impacts of
tariffs); and (7) accounting standards or tax rates in the markets
in which we operate, (b) the loss or financial instability of
any significant customer(s), including as a result of product
recalls or safety concerns related to our products, (c) changes in
consumer behavior, trends and preferences, including health and
whole grain trends, and the movement toward less expensive store
branded products, (d) the level of success we achieve in developing
and introducing new products and entering new markets, (e) our
ability to implement new technology and customer requirements as
required, (f) our ability to operate existing, and any new,
manufacturing lines according to schedule, (g) our ability to
implement and achieve our corporate responsibility goals in
accordance with regulatory requirements and expectations of
stakeholders, suppliers, and customers; (h) our ability to execute
our business strategies which may involve, among other things, (1)
the ability to realize the intended benefits of completed, planned
or contemplated acquisitions, dispositions or joint ventures, such
as the acquisition of Simple Mills, (2) the deployment of new
systems (e.g., our enterprise resource planning ("ERP") system),
distribution channels and technology, and (3) an enhanced
organizational structure (e.g., our sales and supply chain
reorganization), (i) consolidation within the baking industry and
related industries, (j) changes in pricing, customer and consumer
reaction to pricing actions (including decreased volumes), and the
pricing environment among competitors within the industry, (k) our
ability to adjust pricing to offset, or partially offset,
inflationary pressure on the cost of our products, including
ingredient and packaging costs; (l) disruptions in our
direct-store-delivery distribution model, including litigation or
an adverse ruling by a court or regulatory or governmental body
that could affect the independent contractor classifications of the
independent distributor partners, and changes to our
direct-store-delivery distribution model in California, (m)
increasing legal complexity and legal proceedings that we are or
may become subject to, (n) labor shortages and turnover or
increases in employee and employee-related costs, (o) the credit,
business, and legal risks associated with independent distributor
partners and customers, which operate in the highly competitive
retail food and foodservice industries, (p) any business
disruptions due to political instability, pandemics, armed
hostilities, incidents of terrorism, natural disasters, labor
strikes or work stoppages, technological breakdowns, product
contamination, product recalls or safety concerns related to our
products, or the responses to or repercussions from any of these or
similar events or conditions and our ability to insure against such
events, (q) the failure of our information technology systems to
perform adequately, including any interruptions, intrusions,
cyber-attacks or security breaches of such systems or risks
associated with the implementation of the upgrade of our ERP
system; and (r) the potential impact of climate change on the
company, including physical and transition risks, availability or
restriction of resources, higher regulatory and compliance costs,
reputational risks, and availability of capital on attractive
terms. The foregoing list of important factors does not include all
such factors, nor does it necessarily present them in order of
importance. In addition, you should consult other disclosures made
by the company (such as in our other filings with the Securities
and Exchange Commission ("SEC") or in company press releases) for
other factors that may cause actual results to differ materially
from those projected by the company. Refer to Part I, Item 1A.,
Risk Factors, of the Form 10-K and our subsequent filings with the
SEC for additional information regarding factors that could affect
the company's results of operations, financial condition and
liquidity. We caution you not to place undue reliance on
forward-looking statements, as they speak only as of the date made
and are inherently uncertain. The company undertakes no obligation
to publicly revise or update such statements, except as required by
law. You are advised, however, to consult any further public
disclosures by the company (such as in our filings with the SEC or
in company press releases) on related subjects.
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SOURCE Flowers Foods, Inc.