Thomasville, Ga.-based Flowers Foods Inc. (NYSE: FLO), the nation’s second-largest baking company, will buy Milwaukie, Ore.-based Dave’s Killer Bread for $275 million in cash.
Dave’s is the best-selling organic sliced bread in the United States, with 17 varieties of whole grain organic bakery products. The company has widespread distribution across the United States and Canada.
Dave’s Killer Bread products are Certified USDA organic and Non-GMO Project Verified, the Oregon company said.
Dave’s will operate as an independent subsidiary and is expected to continue expansion of its Oregon operation where the company employs 300 people.
“We recognize the opportunity for growth in organic bread and have full intention to maintain what makes Dave’s Killer Bread powerfully different and unique: organic, whole grain and non-GMO ingredients,” said Allen L. Shiver, Flowers Foods’ president and CEO. “We have a long history of producing whole grain breads and a deep understanding of the unique process that’s required to bake a bread like Dave’s. It’s a very complementary partnership with a lot of shared values.”
Flowers’ brands include Nature’s Own, Wonder Bread, Sunbeam, Bunny Bread, Mrs. Freshley’s and Tastykake.