Acquisition of Lepage Bakeries completed
Georgia-based Flower Foods has completed its purchase of Lepage Bakeries Inc. in Auburn for $370 million in cash and stock. The Auburn bakery makes Country Kitchen breads and other products.
Thomasville, Ga.-based Flower Foods plans to release more details about the acquisition next month, The Associated Press reported. Besides Country Kitchen, Lepage Bakeries operates two bakeries in Lewiston and one in Brattleboro, Vt., as well as a store delivery system. It also makes Barowsky's Organic Breads, and has more than $166 million in net sales.
Andrew Barowsky and Albert Lepage, current Lepage Bakeries leaders, will remain with the company as co-chairmen. Lepage Bakeries has more than 550 employees.
Flower Foods makes Nature's Own bread, among other goods, and said the acquisition will expand its presence in New England and New York and boost its direct-store-delivery access from 64% to 70% of the U.S. population.
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