Flowers Foods, Inc. has completed its acquisition of Alpine Valley Bread Company for $120 million in cash and stock.
“Alpine Valley has a great team, delicious products, and a proven warehouse distribution platform in place to support the strong growth of their organic brands,” said Allen L. Shiver, Flowers Food’s President and CEO.
As we reported previously, Alpine Valley has anticipated fiscal 2016 sales of approximately $85 million to $95 million and has generated a compound average revenue growth rate of approximately 51% over the past three years.
Looking to the future, Shiver added, “We’re looking forward to continuing that growth with this significant addition to our organic business.”
That growth could have a big impact on the bottom line as the organic bread market continues to grow at a rate of 27% over the last four years. Alpine Valley Bread Company will operate as an independent subsidiary of Flowers Foods.