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Tasty Baking SOLD!

Somehow I doubt this will help.

A Georgia-based company is taking over Philadelphia’s Tasty Baking Company.

Since Tasty’s profits went stale in the economic downturn, along with the roughly $100-million debt to build and move into its new plant in the Navy Yard in South Philadelphia, a larger competitor, Flowers Foods has been mentioned as a suitor.

The Flowers statement calls it a “definitive merger agreement” whereby Flowers will acquire all of the outstanding shares of Tasty common stock for $4.00 a share, for a total purchase price of about $165-million. That includes the debt Tasty has taken on.

Industry observers believe it’ll strengthen Flowers’ snack cake business through the addition of the iconic Tasty cake brand, and expand the company’s geographic reach.

April 11, 2011 at 12:53 pm
1 comment »
  • April 11, 2011 at 8:54 pmLisa Mossie

    Maybe they will bring back the trans fats so they will taste good again. I had the chocolate cupcakes at the Phillies Game last week and they were horrible.

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