Flowers Foods amends, restates existing credit facility as a five-year US$500M senior unsecured revolving loan facility; under new facility, company may request to increase borrowings to up to US$700M

Kendall Sinclair

Kendall Sinclair

May 23, 2011 – PRNewswire

THOMASVILLE, Georgia , May 23, 2011 (press release) – Flowers Foods, Inc. (NYSE:FLO - News) today announced it amended and restated its existing credit facility. The new credit agreement is a five-year, $500 million senior unsecured revolving loan facility with two, one-year extension options. Under the new credit facility, Flowers may request to increase its borrowings up to an aggregate of $700 million upon the satisfaction of certain conditions.

Borrowing availability under the new credit facility may be used for working capital and general corporate purposes, including capital expenditures, acquisition financing, refinancing of indebtedness, dividends, and share repurchases. The new facility replaces the company's $250 million credit facility that would have expired in October 2012.

"The new revolving credit facility substantially improves our capital structure, providing a solid debt capital base and source of liquidity as we continue to execute our new five-year growth plan," said Steve Kinsey, executive vice president and chief financial officer. "By 2016, our goal is for at least 75% of the nation to have access to our Nature's Own and other fresh baked foods brands. This new credit facility enables us to take advantage of an assortment of growth opportunities as we work to achieve our goal."

Concurrent with entering into the new credit facility, the company amended its term loan agreement, originally entered on August 1, 2008, to conform to the terms of the new amended and restated credit facility.

Company Information

Headquartered in Thomasville, Ga., Flowers Foods is one of the nation's leading producers and marketers of packaged bakery foods for retail and foodservice customers. Flowers operates 39 bakeries that produce a wide range of bakery products sold through an extensive direct-store-delivery network that encompasses the Southeast, Mid-Atlantic, and Southwest as well as select markets in California and Nevada, and nationwide through other delivery systems. Among the company's top brands are Nature's Own, Whitewheat, Cobblestone Mill, Blue Bird, and Mrs. Freshley's. For more information, visit

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.


About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.