News: Flowers Foods Inc (FLO)

FLO on New York Consolidated

33.74USD
17 May 2013
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$-0.04 (-0.12%)
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Fri, Apr 12 2013

Fitch Rates Flowers' $300MM Term Loan 'BBB'

(The following statement was released by the rating agency) NEW YORK, April 12 (Fitch) Fitch Ratings rates Flowers Foods, Inc.'s (Flowers; NYSE: FLO) new five-year senior unsecured term loan 'BBB' with commitment levels of up to $300 million. Pricing will be approximately LIBOR + 187.5 basis points. The proceeds will be used to help finance the pending acquisition of certain assets from Hostess Brands, Inc. (Hostess). The $300 million is within Fitch's expectation, and pro-forma leverage

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Fitch Affirms Flowers' IDR at 'BBB'; Outlook Stable

(The following statement was released by the rating agency) NEW YORK, March 28 (Fitch) Fitch Ratings has affirmed the ratings of Flowers Foods Inc. (Flowers; NYSE: FLO) as follows: --Issuer Default Rating (IDR) at 'BBB'; --$500 million Revolving Credit Facility at 'BBB'; --$400 million Senior Unsecured Note at 'BBB'; --$68 million Term Loan A at 'BBB'. The Rating Outlook is Stable. Key Rating Drivers: Flowers' ratings reflect its leading position as the second largest producer of baked goo

Bimbo wins Beefsteak bread in Hostess Brands auction

Feb 28 - Mexico's Grupo Bimbo won the Beefsteak bread brand in an auction on Thursday from bankrupt company Hostess Brands Inc, after outbidding rival Flowers Foods Inc with an offer for $31.9 million, Hostess said.

Exclusive: Flowers Foods to win Hostess' Wonder Bread - source

- Flowers Foods Inc is set to buy Wonder Bread and some other brands owned by Hostess Brands Inc for $360 million, a source familiar with the matter said on Wednesday, giving the No. 2 U.S. baking company a bigger slice of the fast-consolidating bread business.

Acquisitive Flowers seeks bigger slice of U.S. bread market

* Looks to grab chunk of $30 bln U.S. bread market through Hostess bid

Acquisitive Flowers seeks bigger slice of U.S. bread market

* Looks to grab chunk of $30 bln U.S. bread market through Hostess bid

Hostess creditors object to high break-up fee in Flowers Foods deal

Jan 23 - Hostess Brands Inc's bid to sell its bread brands to Flowers Foods Inc has hit a roadblock with unsecured creditors objecting to the break-up fees Flowers is entitled to for being appointed as the initial or "stalking horse" bidder.

TEXT - S&P says Flowers Foods ratings unaffected by Hostess bids

Jan 6 - Standard & Poor's Ratings Services said today that its ratings and outlook on Thomasville, Ga.-based Flowers Foods Inc. (BBB-/Stable/--) remain unchanged following the company's recent announcement that it has signed two asset purchase agreements to acquire certain brands and assets of Hostess Brands Inc. The agreements provide for the purchase by Flowers of the Wonder, Nature's Pride, Merita, Home Pride, Butternut, and Beefsteak brands, along with 20 bakeries and 38 depots, for a total

TEXT - Fitch comments on Flowers Foods Inc

Jan 14 - Fitch Ratings does not expect to take any immediate rating actions based on Flowers Foods, Inc.'s (Flowers; NYSE: FLO) announcement that it bid $390 million for certain brands and related fixed assets in the fresh bread category from Hostess Brands, Inc. (Hostess). Hostess is under bankruptcy court oversight. The bid must be approved by the Hostess bankruptcy court which would then open the bids to a competitive auction process. If the company is successful near its current offer and

Flowers Foods to buy some Hostess brands for $390 million

- Flowers Foods Inc on Friday said it has agreed to buy Wonder and other well-known bread brands from Hostess Brands Inc for $390 million, as part of the latter company's bankruptcy reorganization.

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