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Flowers Foods, Inc. (NYSE: FLO), headquartered in Thomasville, Georgia, is a leading producer and marketer of packaged bakery goods in the United States. With 2023 sales totaling $5.1 billion, Flowers Foods operates numerous bakeries across the country that deliver an extensive range of bakery products, including fresh breads, buns, rolls, snack cakes, pastries, and tortillas. The company's products are distributed to retail and foodservice customers nationwide, making them widely accessible through supermarkets, convenience stores, and restaurants.
Flowers Foods boasts an impressive portfolio of top brands, including Nature's Own, Wonder, Dave's Killer Bread, Tastykake, Cobblestone Bread, Canyon Bakehouse, and Mrs. Freshley's. Additionally, the company markets popular regional brands such as Merita, Home Pride, Butternut, and Evangeline Maid. Flowers Foods' products are well-loved for their quality and taste, catering to a diverse consumer base.
In 2023, Flowers Foods recorded outstanding financial performance, driven by the effectiveness of its brand portfolio strategy and strong operational execution. The company's flagship brand, Dave's Killer Bread, achieved a milestone with record retail sales of $1 billion. Flowers Foods continually seeks to innovate, introducing new products to expand its market presence. Recent examples include the launch of Nature's Own Keto loaf and Dave's Killer Bread Snack Bars, which have been well-received by consumers.
Flowers Foods is committed to enhancing productivity and efficiency through various initiatives, including the deployment of an upgraded enterprise resource planning (ERP) system and other digital advancements. These efforts aim to streamline operations, reduce costs, and ultimately boost margins. The company also focuses on corporate responsibility and sustainability, working to achieve its environmental, social, and governance (ESG) goals.
Key financial highlights for fiscal 2023 include cash flow from operating activities of $349.4 million, capital expenditures of $129.1 million, and dividends paid to shareholders totaling $195.2 million. Flowers Foods' strong financial position allows it to invest in growth opportunities while delivering value to its shareholders.
Flowers Foods remains dedicated to innovation, marketing, and expanding its distribution network. The company has recently collaborated with Victory Brewing Company to create the Tastykake Koffee Kake Ale, a unique product that combines the flavors of Tastykake's Koffee Kake Cupcake with a sweet ale, available in select retailers. This collaboration exemplifies Flowers Foods' commitment to creativity and expanding its brand reach.
Looking ahead, Flowers Foods maintains a positive outlook for 2024, anticipating benefits from moderating commodity costs, positive pricing actions, and ongoing savings initiatives. The company is focused on maximizing shareholder value and driving results in line with its long-term financial targets.
Vestar Capital Partners has completed the sale of Simple Mills, a premium better-for-you food brand, to Flowers Foods (NYSE: FLO) for $795 million. Vestar, which provided the first institutional investment in October 2019, was Simple Mills' largest shareholder.
During Vestar's five-year investment period, Simple Mills achieved consistent double-digit topline growth through various initiatives including: expanded distribution channels, annual new product launches, increased marketing and R&D investments, and strengthened supply-chain operations through improved co-manufacturing and supplier networks.
The transaction validates Vestar's investment thesis centered on the growing better-for-you foods market segment. Simple Mills' product portfolio includes crackers, cookies, snack bars, and baking mixes. Piper Sandler and Centerview Partners acted as financial advisors, while Kirkland & Ellis LLP served as legal counsel to Vestar.
Flowers Foods (NYSE: FLO) has completed the acquisition of Simple Mills, a leading natural brand specializing in better-for-you crackers, cookies, snack bars, and baking mixes. The acquisition aims to strengthen Flowers Foods' presence in premium snacking segments and diversify its category exposure.
Simple Mills, founded in 2012, has established itself as the leading brand in natural channel crackers, cookies, and baking mixes, with distribution in over 30,000 stores nationwide. The company focuses on producing nutritious products using high-quality ingredients.
Flowers Foods, headquartered in Thomasville, Ga., reported net sales of $5.1 billion in 2024 and is one of the largest packaged bakery foods producers in the United States. The company's portfolio includes prominent brands such as Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake.
Flowers Foods (NYSE: FLO) has announced a quarterly dividend of $0.24 per share, representing a 4.3% increase compared to the same quarter last year. This marks the company's 90th consecutive quarterly dividend payment. The dividend will be payable on March 14, 2025, to shareholders of record on February 28, 2025.
Flowers Foods, headquartered in Thomasville, Georgia, is one of the largest packaged bakery foods producers in the United States, with 2024 sales of $5.1 billion. The company operates multiple bakeries nationwide, producing various bakery products under major brands including Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake.
Flowers Foods (NYSE: FLO) has announced the pricing of two senior notes offerings: $500 million of 5.750% notes due 2035 and $300 million of 6.200% notes due 2055. The offering is expected to close on February 14, 2025.
The company plans to use the proceeds, along with cash on hand, to fund the acquisition of Purposeful Foods Holdings, the parent company of Simple Mills, pay related fees and expenses, and for general corporate purposes. The offering is being made under an automatic shelf registration statement, with BofA Securities, Deutsche Bank Securities, RBC Capital Markets, and Wells Fargo Securities serving as active book-running managers.
Flowers Foods, headquartered in Thomasville, GA, is a major U.S. packaged bakery foods producer with 2024 net sales of $5.1 billion. The company's top brands include Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake.
Flowers Foods (NYSE: FLO) reported its Q4 and full-year 2024 results, showing mixed performance. Q4 net sales decreased 1.6% to $1.111 billion, while net income increased 20.9% to $43.1 million. For fiscal 2024, net sales grew marginally by 0.2% to $5.103 billion, with net income doubling to $248.1 million.
The company's Q4 performance was marked by positive pricing/mix effects being offset by volume declines. Branded Retail sales decreased by 3.9% to $696.5 million, while Other sales increased by 2.6% to $414.6 million. Adjusted EBITDA improved 6.3% to $102.4 million in Q4.
For fiscal 2025, Flowers Foods projects net sales between $5.403-$5.487 billion, representing 5.9-7.5% growth. The company expects adjusted diluted EPS of $1.11-$1.24, with the pending Simple Mills acquisition expected to be accretive to adjusted EBITDA but dilutive to adjusted EPS in 2025.
Flowers Foods (NYSE: FLO) has announced it will release its fourth quarter and full year 2024 financial results on Friday, February 7, 2025, at 7:00 a.m. Eastern Time. The company will host a live Q&A webcast at 8:30 a.m. ET on the same day.
The company, headquartered in Thomasville, Ga., is one of the largest packaged bakery foods producers in the United States, with 2023 sales of $5.1 billion. Flowers Foods operates multiple bakeries nationwide, producing various bakery products under popular brands including Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake.
Dave's Killer Bread, the leading organic bread brand, has announced the national launch of Organic Snack Bites. The new product line features six varieties of crunchy baked clusters in both savory and sweet flavors, crafted with organic nuts, seeds, and grains. The lineup includes Cinna Roll, PB & Chocolate, Honey Nut, Epic Everything™, Toasted Garlic, and Bold Buffalo varieties.
The Snack Bites are designed to be enjoyed alone or as toppings for salads, parfaits, and soups. Like all Dave's products, they are Certified USDA Organic, Non-GMO Project Verified, and free from artificial ingredients. The new products come in stand-up, resealable pouches priced at $6.99 each and are being distributed through Walmart, Walmart.com, Amazon, and grocery stores nationwide.
Flowers Foods (NYSE: FLO) has announced a definitive agreement to acquire Simple Mills for $795 million in cash. Simple Mills, founded in 2012, is a market-leading natural brand offering premium better-for-you crackers, cookies, snack bars, and baking mixes, with estimated 2024 net sales of $240 million, representing 14% growth from the previous year.
The acquisition expands Flowers' exposure to better-for-you and attractive snacking segments, with Simple Mills products available in over 30,000 stores nationwide. The transaction is expected to be immediately accretive to net sales and adjusted EBITDA growth and margins. Upon closing in Q1 2025, Simple Mills will operate as an independent subsidiary, maintaining its operations in Chicago and Mill Valley, with founder Katlin Smith continuing as CEO.
The deal will be funded through a $795 million term loan from Royal Bank of Canada, with proforma total net debt estimated at $1.9 billion and a net debt-to-EBITDA ratio expected between 3.1x to 3.3x.
Flowers Foods (NYSE: FLO) has declared a quarterly dividend of $0.24 per share, representing a 4.3% increase from the same quarter last year. The dividend will be paid on December 13, 2024, to shareholders of record on November 29, 2024. This marks the company's 89th consecutive quarterly dividend payment. Flowers Foods, headquartered in Thomasville, Ga., is a major U.S. packaged bakery foods producer with $5.1 billion in sales for 2023, producing brands including Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake.
Flowers Foods (NYSE: FLO) reported Q3 2024 financial results with net sales decreasing 0.7% to $1.191 billion. Net income increased significantly to $65.0 million, while adjusted net income rose 12.4% to $69.3 million. Adjusted EBITDA grew 10.0% to $133.3 million, representing 11.2% of net sales. The company narrowed its FY2024 guidance, now expecting net sales growth of 0.5% to 1.1% ($5.116-5.147 billion) and adjusted diluted EPS of $1.24-1.28.
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