Flowers Foods seeks to divest Tastykake baked goods business

Flowers Foods Tastykake divestiture baked goods corporate strategy

Flowers Foods is reportedly seeking to divest its Tastykake baked goods business. The company is working with investment bank RBC on the process, with Tastykake potentially valued at approximately $350 million.

Based in Thomasville, Georgia, Flowers Foods owns brands such as Wonder Bread and Simple Mills. The move to sell Tastykake, which produces snack cakes, pies, and donuts under brands like Krimpets and Kandy Kakes, aligns with a strategy to focus on higher-growth brands. Tastykake accounts for roughly $400 million of the company's $5.3 billion in annual sales.

The potential sale occurs amid significant activity in the baked goods sector, following recent deals such as J.M. Smucker’s $5.6 billion acquisition of Hostess Brands.

Entities

Flowers Foods · RBC · Simple Mills · Tastykake · Thomasville, Georgia

Sources

Flowers Foods seeks to divest Tastykake baked goods business, sources say [wdez.com]

6 days ago

Flowers Foods seeks to divest Tastykake baked goods business, sources say [kelo.com]

6 days ago

Flowers Foods seeks to divest Tastykake baked goods business, sources say [wxerfm.com]

6 days ago

Flowers Foods seeks to divest Tastykake baked goods business, sources say [kfgo.com]

6 days ago