Flowers Foods to Buy Simple Mills for $795 Million

Dow Jones

01-08

By Colin Kellaher

Flowers Foods has signed a deal to buy Simple Mills, a maker of better-for-you crackers, cookies, snack bars and baking mixes, for $795 million in cash.

Flowers on Wednesday said Simple Mills, founded in 2012, generated 2024 net sales of $240 million, representing 14% growth.

Flowers, the Thomasville, Ga., owner of brands such as Nature's Own, Wonder and Tastykake, has previously said it expects 2024 sales topping $5.11 billion.

Flowers said it has a commitment for a $795 million term loan from Royal Bank of Canada to help fund the transaction, slated to close in the first quarter.

Flowers said it is buying Simple Mills from founder Katlin Smith, Simple Mills management and investors including middle-market private-equity firm Vestar Capital Partners, the company's largest individual shareholder.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 08, 2025 07:55 ET (12:55 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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