Flowers Foods Inc., Thomasville, GA, has reached a definitive agreement with Dave’s Killer Bread to purchase the Milwaukie, OR, bakery for approximately $275 million in cash. The acquisition, which is subject to regulatory approval and customary closing conditions, is expected to be completed in the third quarter of 2015.
Founded as Nature Bake in 1955 by the Dahl family, the company assumed the name of its best-selling variety, Dave's Killer Bread, after it was an instant hit at the Portland Farmer's Market, where it launched in 2005. Dave's Killer Bread offers 17 varieties of whole-grain organic bakery products distributed across Canada and the U.S., and is now the largest organic bread company in North America, according to Flowers Foods.