Flowers Foods Completes Acquisition Of Dave's Killer Bread

Flowers Foods, Inc. on Monday announced it has completed the acquisition of Dave's Killer Bread, the nation's best-selling organic bread, from its shareholders. Dave's Killer Bread will operate as an independent subsidiary of Flowers Foods.

THOMASVILLE, Ga., Sept. 14, 2015 (PRNewswire) — Flowers Foods, Inc. on Monday announced it has completed the acquisition of Dave's Killer Bread, the nation's best-selling organic bread, from its shareholders, including members of the founding Dahl family and Goode Partners, for approximately $275 million in cash. Dave's Killer Bread will operate as an independent subsidiary of Flowers Foods.

"We are firmly committed to staying true to the recipes, baking process, and other factors that have made Dave's Killer Bread the best-selling organic bread in the U.S.," said Allen L. Shiver, Flowers Foods' president and chief executive officer. "Flowers' resources will allow more consumers to find Dave's Killer Bread in their markets, and with the deal now completed, we can begin working together to make that happen. We welcome the more than 300 Dave's Killer Bread employee partners, who bring great expertise and enthusiasm to Flowers."

John Tucker, Dave's Killer Bread president and chief executive officer, sees more growth ahead. "We've got a brand that's made for greatness: a killer recipe that's powerfully different, a deep commitment to organic, non-GMO ingredients, and a team of partners poised to dial up our growth and take care of all of our fans, " Tucker said. "Together with Flowers we're going to blanket the U.S. with the best bread in the universe, and make good on our commitment to second chance employment."

About Dave's Killer Bread
Dave's Killer Bread is the best-selling organic sliced bread in the U.S., with 17 varieties of whole grain organic bakery products and widespread distribution across the U.S. and Canada. One of the cleanest bread labels on bread shelves, DKB pioneered the organic seeded bread category. All its products are Certified USDA organic and Non-GMO Project Verified. DKB's deep commitment to the power of second chances is helping transform lives and lead to positive, lasting change for its employee partners, one of three who have a criminal background. Learn more about the Flowers Foods announcement at: www.daveskillerbread.com/flowersQ&A

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.

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