Flowers Foods to Acquire Dave's Killer Bread for ~$275M in Cash

Flowers Foods, Inc.

today announced a definitive agreement to acquire Dave's Killer Bread, the best-selling organic bread in the U.S., from its existing shareholders, including members of the Dahl family and Goode Partners, for approximately $275 million in cash. The acquisition, which is subject to regulatory approval and customary closing conditions, is expected to be completed in the third quarter of 2015.   Founded as Nature Bake in 1955 by the Dahl family, the company assumed the name of its best-selling variety, Dave's Killer Bread, after it was an instant hit at the Portland Farmer's Market, where it launched in 2005. Dubbed the "best bread in the universe," by loyal fans, Dave's Killer Bread has grown to offer 17 varieties of whole-grain organic bakery products distributed across Canada and the U.S., and is now the largest organic bread company in North America. Its products have no artificial ingredients and are certified USDA organic, Non-GMO Project verified and rich with protein, fiber and whole grains, seeded all the way around and through.   Dave's Killer Bread employs 300 and operates one bakery in Milwaukie, Ore. Once the transaction is