date:Jan 17, 2013
s leverage based on the current bid. Moodys noted that, because of a series of acquisitions, Flowers has increased its debt load more than fivefold in the period since acquiring Tasty Baking Co. in May 2011 for $175 million.
From a strategic standpoint, we believe that the liquidation of Hostess represents an attractive opportunity for Flowers to selectively expand its U.S. footprint by acquiring attractive, iconic bakery brands, said Brian Weddington, Moodys senior credit officer. However, we