Flowers completes acquisition of Lepage Bakeries
THOMASVILLE, GA. — Flowers Foods, Inc. has completed the acquisition of Lepage Bakeries, Inc. of Auburn, Maine, for $370 million in cash and stock. The transaction was first announced on May 31.
Lepage Bakeries operates three bakeries — two in Lewiston, Maine, and one in Brattleboro, Vt. — and has strong regional brands in Country Kitchen and Barowsky’s as well as a solid distribution system serving retail and food service customers throughout the Northeast.
Founded in 1903, Lepage is expected to expand Flowers’ presence in New England and New York by providing a broader variety of bread, buns and rolls to Flowers. Additionally, Lepage’s direct-store delivery platform is expected to accelerate penetration of Flowers’ Nature’s Own and Tastykake brands in the Northeast.
Lepage generates approximately $166 million in net sales.
Flowers Foods expects to provide additional information about the acquisition during its second-quarter earnings conference call on Aug. 14.