M&A Deal Summary

Flowers Foods Acquires Papa Pita Bakery

On December 13, 2022, Flowers Foods acquired food company Papa Pita Bakery

Acquisition Highlights
  • This is Flowers Foods’ 14th transaction in the Food sector.
  • This is Flowers Foods’ 14th transaction in the United States.
  • This is Flowers Foods’ 1st transaction in Utah.

M&A Deal Summary

Date 2022-12-13
Target Papa Pita Bakery
Sector Food
Buyer(s) Flowers Foods
Deal Type Add-on Acquisition
Advisor(s) BofA Securities (Financial)
Kirton McConkie (Legal)

Target

Papa Pita Bakery

West Jordan, Utah, United States
Papa Pita Bakery is a manufacturer and distributor of high-quality bagels, tortillas, breads, buns, English muffins, and flat breads. Papa Pita Bakery was founded in 1983 and is based in West Jordan, Utah.

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Buyer(S) 1

Buyer

Flowers Foods

Thomasville, Georgia, United States

Category Company
Founded 1919
Sector Food
Employees10,200
Revenue 5.1B USD (2024)
DESCRIPTION

Flowers Foods is a producer of fresh packaged bakery foods. Flowers operates bakeries across the country that produce a wide range of bakery products. Flowers Foods was founded in 1919 and is based in Thomasville, Georgia.


DEAL STATS #
Overall 14 of 16
Sector: Food M&A 14 of 16
Type: Add-on Acquisition M&A Deals 11 of 12
State: Utah M&A 1 of 1
Country: United States M&A 14 of 16
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-12 Base Culture

Clearwater, Florida, United States

Base Culture proudly produces high-quality breads and baked goods made with clean ingredients for consumers seeking deliciously nourishing, satisfying options. All Base Culture products are 100% Paleo-certified, gluten-free, grain-free, non-GMO and kosher. The company also has 100% Keto-certified options in its sliced breads and almond butter product lines. Everything is made in-house at the Base Culture’s manufacturing plant to ensure that product quality is held to the highest of standards. Its products are available nationally at stores including Whole Foods Markets, Kroger, Publix, and Albertsons/Safeway. Base Culture is based in Clearwater, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-08 Simple Mills

Chicago, Illinois, United States

Simple Mills offers more than 30 baking mixes, crackers, cookies, bars and frostings that are free of gluten, grain, dairy, soy, GMOs, excessive sugar, gums, emulsifiers, and anything artificial. All products are made exclusively with real, whole-food ingredients like nutrient-dense almond flour, unrefined coconut sugar and sprouted seeds that work hard for the body in every bite while delivering taste that regularly earns five-star ratings from customers. Simple Mills was founded in 2012 and is based in Chicago, Illinois.

Buy $795M