THOMASVILLE, GA (WALB) - Flowers Foods, Inc. of Thomasville is buying Alpine Valley Bread Company, a family-owned producer of certified organic breads for $120 million in cash and stock.
Alpine Valley Bread Company was founded in 1997 by the Wood family wand started in a strip mall in Mesa, Arizona. It has grown to serve national retail grocers, specialty healthy living stores, and club retailers.
Their product line includes Super Grains, 21 Whole Grains, Multi Grain Omega -3, Sprouted Wheat with Flaxseed and other breads that are USDA Organic certified, Non-GMO Project verified, and kosher certified.
The company employs 282 and operates two bakeries in Mesa. Alpine will operate as an independent subsidiary of Flowers.
"Alpine Valley Bread Company will further strengthen our company," said Allen L. Shiver, Flowers' president and chief executive officer. "With its extensive portfolio of on-trend organic products, Alpine Valley has a deeply rooted culture of excellence, service, and commitment. We are especially pleased to welcome Alpine's team members who will bring expertise in the development, production, and delivery of organic breads to Flowers."
With anticipated fiscal 2016 sales of approximately $90 million, Alpine Valley has generated a compound average revenue growth rate of approximately 51% over the past three years.