THOMASVILLE, Ga., Oct. 13, 2015 /PRNewswire/ -- Flowers Foods,
Inc. (NYSE: FLO) today announced it has completed the acquisition
of Alpine Valley Bread Company, a family-owned, U.S. producer of
certified organic and all natural breads, for $120 million in cash and stock. Alpine Valley
Bread Company will operate as an independent subsidiary of Flowers
Foods.
"Alpine Valley has a great team, delicious products, and a
proven warehouse distribution platform in place to support the
strong growth of their organic brands," said Allen L. Shiver, Flowers Foods' president and
chief executive officer. "We're looking forward to continuing that
growth with this significant addition to our organic business."
About Flowers Foods
Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE:
FLO) is one of the largest producers of fresh packaged bakery foods
in the United States, with 2014
sales of $3.75 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, Wonder, and Tastykake. Learn more at
www.flowersfoods.com.
Forward-Looking Statements
Statements contained in this press release that are not
historical facts are forward-looking statements. Forward-looking
statements relate to current expectations regarding the company's
plans, objectives, expectations and intentions with respect to the
acquisition of Alpine Valley Bread Company, the expected impact of
the acquisition on the future earnings of the company, integration
plans and expected business opportunities and benefits of
transactions 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. All forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ from those projected. Other factors that may cause actual
results to differ from the forward-looking statements contained in
this release and that may affect the company's prospects in general
include, but are not limited to (a) the failure of the company to
successfully integrate Alpine Valley Bread Company or realize
expected business opportunities and benefits; (b) competitive
conditions in the baked foods industry, including promotional and
price competition, (c) changes in consumer demand for our products,
including changes in consumer behavior, trends and preferences,
including health and whole grain trends, and the movement toward
more inexpensive store-branded products, (d) the success of
productivity improvements and new product introductions, (e) a
significant reduction in business with any of our major customers
including a reduction from adverse developments in any of our
customer's business, (f) fluctuations in commodity pricing, (g)
energy and raw material costs and availability and hedging and
counterparty risk, (h) our ability to fully integrate recent
acquisitions into our business, (i) our ability to achieve cash
flow from capital expenditures and acquisitions and the
availability of new acquisitions that build shareholder value; (j)
consolidation within the baking industry and related industries;
(k) disruptions in our direct-store delivery system, including
litigation or an adverse ruling from a court or regulatory or
government body that could affect the independent contractor
classification of our independent distributors, and (l) the failure
of our information technology systems to perform adequately,
including any interruptions, intrusions or security breaches of
such systems. The foregoing list of important factors does not
include all such factors, nor necessarily present them in order of
importance. In addition, you should consult other disclosures made
by the company, including the risk factors included in our most
recently filed Annual Report on Form 10-K and Quarterly Report on
Form 10-Q filed with the Securities and Exchange Commission ("SEC")
and disclosures made in other filings with the SEC and company
press releases, for other factors that may cause actual results to
differ materially from those projected by the company. 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.
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SOURCE Flowers Foods, Inc.