THOMASVILLE, Ga., Aug. 4 /PRNewswire-FirstCall/ -- Flowers Foods (NYSE:
FLO) today announced that it has completed the acquisition of ButterKrust
Bakery in Lakeland, Fla. In the transaction, Flowers purchased all of the
issued and outstanding capital stock of the holding company of ButterKrust for
cash.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080530/CLF007LOGO )
ButterKrust Bakery operates profitably with annualized sales of
approximately $70 million. ButterKrust has one bakery in Lakeland that employs
368 people and the company's fresh breads and rolls are available throughout
Florida under the Country Hearth, Rich Harvest, and Sunbeam brands as well as
store brands.
Headquartered in Thomasville, Ga., Flowers Foods, with annual sales of
over $2.02 billion, is one of the nation's leading producers and marketers of
packaged bakery foods for retail and foodservice customers. Flowers operates
36 bakeries that produce a wide range of bakery products marketed throughout
the Southeastern, Southwestern, and mid-Atlantic states via an extensive
direct-store-delivery network and nationwide through other delivery systems.
Among the company's top brands are Nature's Own, Whitewheat, Cobblestone Mill,
Sunbeam, Blue Bird, and Mrs. Freshley's. For more information, visit
www.flowersfoods.com .
Statements contained in this press release that are not historical facts
are forward-looking statements. 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)
competitive conditions in the baked foods industry, including promotional and
price competition, (b) changes in consumer demand for our products, (c) the
success of productivity improvements and new product introductions, (d) a
significant reduction in business with any of our major customers including a
reduction from adverse developments in any of our customer's business, (e)
fluctuations in commodity pricing and (f) our ability to achieve cash flow
from capital expenditures and acquisitions and the availability of new
acquisitions that build shareholder value. In addition, our results may also
be affected by general factors such as economic and business conditions
(including the baked foods markets), interest and inflation rates and such
other factors as are described in the company's filings with the Securities
and Exchange Commission.
SOURCE Flowers Foods
CONTACT: Investor Contact: Marta J. Turner, Executive VP-Corporate
Relations, +1-229-227-2348; or Media Contact: Mary A. Krier,
VP-Communications, +1-229-227-2333, both of Flowers Foods
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