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News Breaks | | | | January 11, 2013 | | 19:04 EDT |  | FLO | Hostess selects Flowers Foods as stalking horse bidder for assets
Hostess Brands announced that the company has selected Flowers Foods (FLO) as the stalking horse bidder for the majority of the assets related to the company's bread business, including the Butternut, Home Pride, Merita, Nature's Pride and Wonder brands. The agreement includes, in addition to the brands, 20 bakeries, 38 depots and other assets. The purchase price consists of $355M in cash, increased to $360M if certain license rights are included in the sale. The company's remaining bread brands, as well as its snack cake business, will be sold separately. Hostess has also selected Flowers as the stalking horse bidder for the company's Beefsteak bread brand. The purchase price consists of $30M in cash for the brand. The transaction does not include facilities or additional assets. | |
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News For FLO From The Last 14 Days Check below for free stories on FLO the last two weeks. |
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| May 16, 2013 | | 09:56 EDT | | FLO | Flowers Foods sees regulatory process for Hostess purchase complete in 2H
Flowers Foods said its proposed acquisition of Hostess assets is currently undergoing regulatory review and the company expects that process will be completed in the second half of the year. Flowers sees completing its roll-out of new Sara Lee business in California in early June and notes, when done, more than 77% of the U.S. population will have access to Flowers fresh baked products. Repeats unable to give full year guidance as of now due to Hostess transaction still being under regulatory review, but CEO George Deese said, "I can tell you that I believe it will be a record year and that it will meet or exceed our long-term objectives." Says forecast for FY13 input costs is still to be up approximately 3%-5% on a volume neutral basis year-over-year. Comments from Q1 earnings conference call. | | | 09:19 EDT | | FLO | On The Fly: Pre-market Movers
 Subscribe for More Information | | | 06:34 EDT | | FLO | Flowers Foods sees operating earnings 'strong' in Q2, delays FY13 view
R. Steve Kinsey, executive vice president and CFO, said, "We continue to be very optimistic about the outlook for FY13 and, in Q2, we are continuing to see very good sales growth. Q2 operating earnings also are expected to be strong, although we are experiencing start-up costs related to the integration of the Sara Lee business in California. Given that the Hostess transaction is currently under regulatory review, we are delaying FY13 guidance until the review is completed." | | | 06:32 EDT |  | FLO | Flowers Foods reports Q1 EPS ex-items 46c, consensus 42c
Subscribe for More Information | | | May 15, 2013 | | 15:11 EDT | | FLO | Notable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.15; Kohl's (KSS), consensus 58c; Flowers Foods (FLO), consensus 42c; Brady Corp. (BRC), consensus 60c; Prestige Brands (PBH), consensus 35c. | |
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