USA: Flowers Foods to acquire Simple Mills

Flower Foods, a US producer and marketer of packed bakery food, has announced the acquisition of Simple Mills, a bakery and snacks firm, for $795 million in cash.

Founded in 2012, Simple Mills is a provider of health-oriented crackers, biscuits, cakes, snacks bars and baking mixes with operation in Chicago(IL) and Mill Valley (CA). After the transaction, Simple Mills will remain an independent subsidiary of Flowers Foods, led by founder and CEO Katlin Smith.

Commenting on the deal, Flowers Foods chairman and CEO Ryals McMullian said: “With leading market positions and abundant white space for future growth, Simple Mills perfectly fits our strategy of adding compelling brands in better-for-you segments that complement and diversify our existing portfolio. Equally important, the brand’s mission aligns with Flowers’ values centered on honesty and integrity, respect and inclusion, and sustainability”.

Katlin Smith, founder and CEO of Simple Mills, added: “This transaction marks the beginning of a new phase of growth for Simple Mills and we are thrilled to join the Flowers family. With Flowers’ resources, we will be well positioned to broaden distribution, accelerate innovation, and amplify brand awareness, while advancing our mission”.

Source: Flowers Foods