Jones Day Helps Flowers Foods Gobble Lepage In $370M Buy

Law360, New York (May 31, 2012, 4:07 PM EDT) -- Georgia-based Flowers Foods Inc. is picking up Lepage Bakeries Inc. for $370 million in a cash and stock deal that significantly expands the packaged bakery good retailer's presence into Northeast markets, the companies announced Thursday.

In return for snagging the Maine-based Lepage operations, Flowers is offering in its definitive agreement $320 million in cash, about $20 million of which will be deferred for four years, and another $50 million in company stock, it said.

Pending regulatory approvals, the deal is expected to close within the second...
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