Flowers Foods, Inc. snaps up Simple Mills
The acquisition will bolster Flowers' BFY exposure.
Flowers Foods, Inc. today announced that it has entered into a definitive agreement to acquire Simple Mills for $795 million in cash. The addition of Simple Mills expands Flowers’ exposure to better-for-you and attractive snacking segments and enhances the company’s growth and margin prospects.
Founded in 2012 by Katlin Smith, Simple Mills is a natural brand offering premium better-for-you crackers, cookies, snack bars, and baking mixes. Built upon the belief that food has the power to spark impactful change, Simple Mills’ mission is to revolutionize the way food is made to positively impact people and the planet. The brand’s simple ingredients, use of nutrient-dense nut, seed, and vegetable flours, and taste have reportedly cultivated brand love and loyalty among natural and mainstream consumers alike. Simple Mills products are available nationwide across more than 30,000 natural and conventional stores. Simple Mills is estimated to have generated 2024 net sales of $240 million, representing 14% growth compared to the prior year.
“We are incredibly excited to welcome the Simple Mills team to Flowers,” says Ryals McMullian, chairman and CEO of Flowers Foods. “With leading market positions and abundant white space for future growth, Simple Mills perfectly fits our strategy of adding compelling brands in better-for-you segments that complement and diversify our existing portfolio. Equally important, the brand’s mission aligns with Flowers’ values centered on honesty and integrity, respect and inclusion, and sustainability. Katlin and the Simple Mills team have built a remarkable business, and we look forward to collaborating with them to generate continued growth while preserving the brand’s integrity and staying true to its unmatched quality and taste.”
Katlin Smith, founder and CEO of Simple Mills, comments, “This transaction marks the beginning of a new phase of growth for Simple Mills and we are thrilled to join the Flowers family. I am extremely proud of our talented team and the strong brand we’ve built with the support of our valued partners and loyal customers. With Flowers’ resources, we will be well positioned to broaden distribution, accelerate innovation, and amplify brand awareness, while advancing our mission. Flowers has a strong track record of fostering growth in its acquired companies while stewarding and protecting their brand promise. I cannot imagine a better partner for Simple Mills and the team, and I look forward to working alongside Flowers to build upon our strong history of growth.”
The transaction is subject to customary regulatory approval and closing conditions and is anticipated to close in the first quarter of 2025. Upon closing, Simple Mills will operate as an independent subsidiary of Flowers Foods and continue to be led by founder and CEO Katlin Smith and her leadership team. Simple Mills will maintain its operations in Chicago, IL and Mill Valley, CA.
Flowers Foods is on the current Snack Food & Wholesale Bakery “Top 50 Snack & Bakery Companies” list. Click here to view the current “Top 50” rankings.
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