Flowers Foods to use revolver borrowings in Alpine Valley acquisition

By Wendy Van Sickle

Columbus, Ohio, Sept. 9 – Flowers Foods, Inc. will draw from its revolving credit facility to fund part of its acquisition of Alpine Valley Bread Co., according to a Wednesday press release.

The company said about 90% of the $120 million consideration will come from a combination of revolver borrowings and available cash. The remaining 10% will be in the form of Flowers Foods common stock.

The transaction is expected to close in the fourth quarter of 2015.

Flowers Foods is a Thomasville, Ga.-based producer and marketer of packaged bakery foods for retail and foodservice customers. Alpine Valley is a Mesa, Ariz.-based producer of organic breads.

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