Tasty Baking's board of directors has unanimously determined that the agreement and plan of merger and tender offer are in the best interests of Tasty Baking's shareholders. Tasty Baking's board also recommends that shareholders of Tasty Baking tender their shares pursuant to the tender offer.
The tender offer is scheduled to expire at midnight Philadelphia time on May 19, 2011, unless extended.
Founded in 1919 and headquartered in Thomasville, Ga., Flowers Foods, with $2.6 billion in annual sales, is one of the nation's leading producers and marketers of packaged bakery foods for retail and foodservice customers. Among the company's top brands are Nature's Own, Whitewheat, Cobblestone Mill, Blue Bird and Mrs. Freshley's. Flowers operates 39 bakeries that are among the most efficient in the baking industry. Flowers Foods produces, markets and distributes fresh bakery products that are delivered to customers daily through a direct-store-delivery system serving the Southeast, Mid-Atlantic and Southwest as well as select markets in California and Nevada. The company also produces and distributes fresh snack cakes and frozen breads and rolls nationally through warehouse distribution.
Tasty Baking Co., founded in 1914 and headquartered in Philadelphia, is one of the country's leading bakers of snack cakes, pies, cookies and donuts. The company has manufacturing facilities in Philadelphia and Oxford, Pa. The company offers more than 100 products under the Tastykake brand name.
Want breaking news at your fingertips?
Get today’s need-to-know convenience industry intelligence. Sign up to receive texts from CSP on news and insights that matter to your brand.