Flowers Foods Named 'Best-Managed' Food Company Among the 400 Best Big Companies in America

/PRNewswire-FirstCall/ -- Flowers Foods (NYSE: FLO) has been named the "best-managed" food company among the 400 best big companies in America by Forbes Magazine. Forbes editors selected Flowers Foods as the best among the 17 companies in the food, drink, and tobacco category that made it on to Forbes' annual Platinum 400 list. This is Flowers Foods' fifth time on the list and the second time the company has been named "best" in its category.

To create the list, the magazine looked at more than 1,000 publicly traded companies with at least $1 billion in revenue and then chose 400 based on financial metrics, earnings forecasts, corporate governance ratings, and other public company information. From that list, Forbes editors picked one best-managed company from each of the 26 industries represented. Forbes selected these companies not just for their financial performance, but also for leadership, innovation, and execution.

In addition, Flowers Foods' stock was one of 15 noted by Forbes as holding up well during recession. Editors looked through the Platinum 400 to see which stocks performed best in 2008 and during the last recession in 2001.

"We're honored to once again be selected as 'best of the best' among our peers by Forbes," said George E. Deese, chairman of the board, CEO, and president. "The entire organization takes pride in our ongoing dedication to executing on our long-term strategy that continues to build value for our shareholders."

"America's Best Big Companies" appears in the January 12, 2009 issue of Forbes and online at www.forbes.com/platinum.

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Flowers Foods Completes Merger With Holsum Bakery of Phoenix

PRNewswire-FirstCall/ -- Flowers Foods, Inc. (NYSE:FLO) today announced the completion of its merger with Holsum Bakery, Inc. Holsum will operate as a subsidiary of Flowers under its current name and with its existing management team.

Established in 1881, Holsum Bakery operates profitably on annualized sales of approximately $146 million from its two bakeries in the Phoenix area. The company sells its Holsum, Aunt Hattie's, and Roman Meal fresh breads and rolls through independent distributors that serve retail and foodservice customers in Arizona, New Mexico, southern Nevada and Southern California.

Headquartered in Thomasville, Ga., Flowers Foods, with annual sales of over $2.02 billion, is one of the nation's leading producers and marketers of packaged bakery foods for retail and foodservice customers. With the Holsum acquisition completed, Flowers now operates 39 bakeries that produce a wide range of bakery products marketed throughout the Southeastern, Southwestern, and mid-Atlantic states via an extensive direct-store-delivery network and nationwide through other delivery systems. Among the company's top brands are Nature's Own, Whitewheat, Cobblestone Mill, Sunbeam, Holsum, Aunt Hattie's, Blue Bird, and Mrs. Freshley's. For more information, visit www.flowersfoods.com .

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 and (f) 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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Flowers Foods Completes Acquisition of ButterKrust Bakery in Florida

PRNewswire-FirstCall/ -- Flowers Foods (NYSE: FLO) today announced that it has completed the acquisition of ButterKrust Bakery in Lakeland, Fla. In the transaction, Flowers purchased all of the issued and outstanding capital stock of the holding company of ButterKrust for cash.

ButterKrust Bakery operates profitably with annualized sales of approximately $70 million. ButterKrust has one bakery in Lakeland that employs 368 people and the company's fresh breads and rolls are available throughout Florida under the Country Hearth, Rich Harvest, and Sunbeam brands as well as store brands.

Headquartered in Thomasville, Ga., Flowers Foods, with annual sales of over $2.02 billion, is one of the nation's leading producers and marketers of packaged bakery foods for retail and foodservice customers. Flowers operates 36 bakeries that produce a wide range of bakery products marketed throughout the Southeastern, Southwestern, and mid-Atlantic states via an extensive direct-store-delivery network and nationwide through other delivery systems. Among the company's top brands are Nature's Own, Whitewheat, Cobblestone Mill, Sunbeam, Blue Bird, and Mrs. Freshley's. For more information, visit www.flowersfoods.com .

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 and (f) 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.