Buying Flowers

June 26 and 27/Financial Deals Tracker -- Flowers Foods Inc. announced plans to acquire a pair of bakeries, as it continues to expand.

Flowers Foods Inc. entered into an agreement to acquire Holsum Bakery Inc. in a cash and stock transaction. With annual sales of approximately $146 million, Holsum sells bread and rolls under the Holsum, Aunt Hattie's and Roman Meal brands.

Following the acquisition, Holsum will operate as a wholly owed subsidiary of Flowers. The acquisition is expected to further strengthen Flowers' operations and also help the company to strategically expand its geographic footprint.

Flowers also agreed to acquire all of the issued and outstanding capital stock of ButterKrust Bakery, a producer of bread products, in a cash transaction. This acquisition is expected to bring additional production capacity to help Flowers Foods serve the Florida market.

From the July 7, 2008, Prepared Foods e-Flash