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Flowers Foods, Inc., has acquired Leo’s Foods, Inc., a family-owned tortilla producer based in Ft. Worth, Texas. Terms were not disclosed.
With annual sales of about $30 million, Leo’s Foods employs 230 people and produces a line of flour and corn tortillas at its Ft. Worth facility. These products are sold to foodservice and institutional customers nationwide under Leo’s, Juarez and customer brands.
Leo’s Foods will operate as a subsidiary of Flowers Bakeries under its current name and will continue to serve existing customers with quality tortilla products. Owners Leo and Sule Jimenez, who founded Leo’s Food in 1978 and served as the company’s president and finance executive respectively, planned to retire following the sale. Jaime Garcia will remain Leo’s general manager.
“Leo’s Foods brings to Flowers a solid company with decades of experience in making high-quality tortilla products,” says George E. Deese, Flowers Foods’ chairman, CEO and president. “Leo’s will allow us to expand our presence in the tortilla market, which we have been serving since 1994 with our Mi Casa brand, and it aligns well with our foodservice business.”
Headquartered in Thomasville, Ga., Flowers Foods, with annual sales of more than $2.4 billion operates, 39 bakeries that produce a wide range of bakery products sold through its direct-store-delivery network that encompasses the Southeast, Mid-Atlantic and Southwest, as well as select markets in California and Nevada, and nationwide through other delivery systems.