Flowers Foods Inc. (Thomasville, Ga.) announced that the U.S. Department of Justice has approved an agreement under which Flowers would acquire certain assets and trademark licenses from BBU Inc., a subsidiary of Grupo Bimbo, one of the world’s largest bakeries. Financial terms were not disclosed, but Flowers will receive perpetual, exclusive and royalty-free licenses to the Sara Lee and Earthgrains brands for sliced breads, buns, and rolls in California, which together account for annual sales of approximately $134 million. Flowers also will receive such a license to the Earthgrains brand for certain fresh bakery products in the Oklahoma City area. Flowers is the second-largest producer and marketer of packaged bakery foods for retail and foodservice in the United States with 2011 sales of $2.8 billion; it has completed more than 100 acquisitions since listing publicly in 1968. Among the company's top brands are Nature's Own, Tastykake, and Mrs. Freshley's. Although the majority of its brands are conventional, its website states it was the first company to introduce a sugar-free bread, Nature’s Own Sugar-Free, in 1999. Earthgrains is made without colors, flavors, preservatives, or high fructose corn syrup and contains 100% natural ingredients, according to the brand’s website.
Disclaimer: NCN does not warrant the accuracy, reliability, or timeliness of any NCN news item. Before relying on any NCN News item the information should be independently verified.
For more finance and investment information, visit Nutrition Capital Network news