Flowers Foods Agrees to Buy Alpine Valley Bread for $120 MillionBy
Flowers Foods Inc., the maker of Wonder bread and Nature’s Own baked goods, agreed to buy Alpine Valley Bread Co. for $120 million in cash and stock to add more organic products.
The deal for the closely held company is expected to close in the fourth quarter, Thomasville, Georgia-based Flowers Foods said in a statement Wednesday.
The acquisition gives Flowers Foods, which also makes Tastykake pastries and Mi Casa tortillas, more organic and natural products, such as honey chia and multi grain omega 3 breads. Alpine Valley is projected to have $85 million to $95 million in sales in its fiscal 2016, Flowers Foods said.
Shares of Flower Foods rose 0.3 percent to $23.95 at 9:41 a.m. in New York. The shares gained 24 percent this year through Tuesday.
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