Flowers Foods has completed its acquisition of Dave’s Killer Bread from members of the founding Dahl family and Goode Partners, for approximately $275 million in cash. Dave’s Killer Bread will operate as an independent subsidiary of Flowers Foods. Goode Partners purchased a 50% ownership interest in Dave’s Killer Bread in December 2012.
According to Flowers Foods, Dave’s Killer Bread is the nation’s best-selling organic bread. “We are firmly committed to staying true to the recipes, baking process, and other factors that have made Dave’s Killer Bread the best-selling organic bread in the US,” said Allen Shiver, Flowers Foods’ president and chief executive officer. “Flowers’ resources will allow more consumers to find Dave’s Killer Bread in their markets, and with the deal now completed, we can begin working together to make that happen.”
Dave’s Killer Bread produces 17 varieties of whole grain organic bakery products. All of its products are Certified USDA organic and Non-GMO Project Verified. The company is “breadquartered” south of Portland in Milwaukie, OR (www.daveskillerbread.com).
Goode Capital Partners invests from $10 million to $30 million of equity in consumer-oriented companies. The firm has a specific interest in consumer brands and services, retail, restaurants, and direct marketing/selling. Goode Capital Partners is based in New York (www.goodepartners.com).
Flowers Foods (NYSE: FLO) is one of the largest producers of fresh packaged bakery foods in the United States, with 2014 sales of $3.8 billion. . Among the company’s top brands are Nature’s Own, Wonder, and Tastykake. Flowers Foods is headquartered north of Tallahassee, FL in Thomasville, GA (www.flowersfoods.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 9-16-15