Flowers completes ButterKrust acquisition
August 04, 2008
by Josh Sosland
THOMASVILLE, GA. — Flowers Foods, Inc. announced it has completed its acquisition of ButterKrust Bakery, Lakeland, Fla.
In a cash transaction, Flowers acquired all of the issued and outstanding capital stock of the holding company (G&G Holding Co.) of ButterKrust.
With annual sales of about $70 million, ButterKrust operates a single baking plant with 368 employees. The plant’s fresh bread and rolls are available throughout Florida under the Country Hearth, Rich Harvest, and Sunbeam brands as well as store brands.
Flowers first announced it had agreed to acquire ButterKrust June 26 for $90 million. That same week, Flowers said it reached an agreement to acquire Phoenix based Holsum Bakery Inc.