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Flowers Foods Prices $400 Million Of Senior Notes

Stocks in this article: FLO





THOMASVILLE, Ga., March 29, 2012 /PRNewswire/ -- Flowers Foods (NYSE: FLO) today announced the pricing of the public offering of $400 million aggregate principal amount of 4.375% senior notes due 2022. The senior notes will bear interest at a rate of 4.375 percent per annum and will mature on April 1, 2022. The transaction is expected to close on or about April 3, 2012.

(Logo: http://photos.prnewswire.com/prnh/20080530/CLF007LOGO)

The company intends to use a portion of the net proceeds of the offering to repay long-term debt currently outstanding under its revolving credit facility and the balance of the net proceeds for future acquisitions, general corporate purposes and working capital.

Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers.

The offering is being made under an automatic shelf registration statement filed with the Securities and Exchange Commission (SEC) on February 8, 2011. This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the senior notes will be made exclusively by means of a prospectus and prospectus supplement.

Copies of the prospectus and prospectus supplement relating to the senior notes may be obtained for free by visiting EDGAR on the SEC Web site at http://www.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained from any of the joint book-running managers by contacting Deutsche Bank Securities Inc. at (800) 503-4611 and Merrill Lynch, Pierce, Fenner & Smith Incorporated at (800) 294-1322.

Headquartered in Thomasville, Ga., Flowers Foods is the second largest producer and marketer of packaged bakery foods for retail and foodservice customers in the United States. Flowers operates 41 bakeries that produce a wide range of bakery products sold through an extensive direct-store-delivery network that encompasses the Southeast, Mid-Atlantic, and Southwest as well as select markets in the Northeast, California and Nevada, and nationwide through other delivery systems. Among the company's top brands are Nature's Own, Whitewheat, Tastykake, and Mrs. Freshley's.

Statements contained in this press release that are not historical facts are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. Other factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company's prospects in general include, but are not limited to, (a) competitive conditions in the baked foods industry, including promotional and price competition, (b) changes in consumer demand for our products, (c) the success of productivity improvements and new product introductions, (d) a significant reduction in business with any of our major customers including a reduction from adverse developments in any of our customer's business, (e) fluctuations in commodity pricing, (f) our ability to fully integrate recent acquisitions into our business,  and (g) our ability to achieve cash flow from capital expenditures and acquisitions and the availability of new acquisitions that build shareholder value.  In addition, our results may also be affected by general factors such as economic and business conditions (including the baked foods markets), interest and inflation rates and such other factors as are described in the company's filings with the Securities and Exchange Commission.

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