Flowers Foods buying Dave's Killer Bread for $275 million - KPTV - FOX 12

Flowers Foods buying Dave's Killer Bread for $275 million

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MILWAUKIE, OR (KPTV) -

Dave's Killer Bread, the popular Oregon-based brand of organic bread, announced Wednesday that it reached a buyout deal with Flowers Foods of Thomasville, Georgia. 

Flowers Foods said it will pay approximately $275 million in cash for the top-selling bread company.

Dave's Killer Bread said the deal will allow the company to expand its business and speed up distribution.

"They're a 100-year-old bakery business, that really understands what it means to be a premium quality baker," said Dave's Killer Bread CEO John Tucker. "We couldn't be more thrilled about this opportunity."

Flowers Foods is the second-biggest baking company in the country and owns a number of brands of baked goods, including Nature's Own, Wonder Bread and Sunbeam.

Under the deal, Dave's Killer Bread will keep its name and operate as an independent subsidiary of Flowers Foods.

Dave's Killer Bread said it also will remain committed to its practice of hiring ex-cons to work in its Milwaukie bakery.

"We know people are going to ask about quality," said Tucker. "That iconic logo you see today is going to stay, and the quality of bread is also going to stay."

Dave's Killer Bread is the best-selling brand of organic sliced bread in the United States, with sales expected to be between $160 and $170 million in fiscal year 2016.

The companies expect to complete the sale early this fall.

While Dahl could not be reached for comment about the sale, on his Facebook page he talked about how he's now working from home and finding a new hobby that helps him forget the pain and sadness of handing over the reins of his company.  

In the post Dahl said quote:

"The current shepherds have taken my baby and guided it into a fine adult."   

Tucker says the sale also brings better job security for the 300 plus employees at their local facility, and it even means they'll be bringing on more staff.  

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