Flowers Foods explores sale of Tastykake unit valued at around $350 million

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Flowers Foods is exploring a sale of its Tastykake baked goods division in a deal that could value the brand at around $350 million, Reuters reported, citing people familiar with the matter. The company, which has a market capitalization of roughly $1.5 billion, is working with investment bank RBC Capital Markets to manage the sale process. Tastykake generates approximately $400 million of Flowers’ annual $5.3 billion in net sales. The potential divestment aligns with Flowers’ strategy to shed non-core assets and pivot toward higher-growth, better-for-you snack brands, following last year’s $795 million acquisition of Simple Mills.

Flowers Foods Inc ±