Tastykake Has Been Saved!

[Zoom-boing]

When I was a kid growing up in Philadelphia, there was nothing that made me happier – well, other than listening to Harry the K calling another moonshot by Michael Jack Schmidt into the dancing waters in centerfield at the Vet – than a package of Tastykakes. Jelly krimpets. Or butterscotch krimpets. Chocolate cupcakes. Dutch apple pies. And, best of all, chocolate Kandy Kakes.

So I’ve been watching with concern in recent months as Tasty Baking (TSTY) fell into financial disarray.

But this morning, the company has been saved.

Flowers Foods (FLO), a company based in Thomasville, Georgia (eew, Braves territory) announced a deal to acquire Tasty Baking for $4 a share in cash, for a total price of about $165 million, most of that the assumption of existing debt. Flowers said the deal will add $115 million to $125 million to its 2011 sales, generating $10 million to $12 million in additional 2011 EBITDA. Flowers said the deal will be neutral to slightly accretive to 2011 EPS.

Flowers expects the deal to boost 2012 rcvs by $210 million to $225 million, contributing $25 million to $30 million in EBITDA, and 6-9 cents a share in profits. The deal is expected to close in the second quarter.

Flowers Buys Tastykake; All The Good Things Wrapped Up In One - Eric Savitz - The Tech Trade - Forbes

 

[R.D.]

Whoo-hoo

Now that jingle will be in my head for days ..... Nobody bakes a cake as tasty as a Tastykake.

 

[Zoom-boing]

Giant has a 24-package box of Tastykakes on sale for $6. It's HUGE! Glad they didn't go belly up so they can still go down the belly.

 

[Avatar4321]

Now i want to go out and get some.

 

[Zona]

I was born and raised in Philly and I say ....WOOHOO.

The only place I know to get it here in arizona is on base at Luke AFB. I go there all the time and stock up.

Again, woohoo! Oh and the fav is French apple pie. Butterscotch krimpets are second.

 

[Zona]

Damn I would kill for a real philly pretzel, or a maronee's water ice. Mr. softee perhaps? A real slice of pizza and of course a hoagie or cheese steak. A real one. lololol

I miss philly food.

 

[Zoom-boing]

Damn I would kill for a real philly pretzel, or a maronee's water ice. Mr. softee perhaps? A real slice of pizza and of course a hoagie or cheese steak. A real one. lololol

I miss philly food.

I bet if you looked on-line you could find places that ship food from here to wherever AZ. Well, not cheesesteaks. Or ice cream. Maybe not pizza either. Forgetaboutthe water ice. But soft pretzels, hoagies, Tastykakes, Johnson's popcorn and salt water taffies from the boardwalk. Ooo, and fudge.

I went to school with the Trotter kids, they supplied the local schools with Philly soft pretzels. When one of the sons, Charlie (they had 16 kids) was in 10th grade he and Mr. Trotter went on a trip to Maryland for business. The small plane crashed on the way home and they were both killed. I always think of them when I eat a Philly soft pretzel.

 

[R.D.]

Damn I would kill for a real philly pretzel, or a maronee's water ice. Mr. softee perhaps? A real slice of pizza and of course a hoagie or cheese steak. A real one. lololol

I miss philly food.

I'll head on over this weekend and think of you mwhahahahahaha

 

[zelskid]

When I was a kid growing up in Philadelphia, there was nothing that made me happier – well, other than listening to Harry the K calling another moonshot by Michael Jack Schmidt into the dancing waters in centerfield at the Vet – than a package of Tastykakes. Jelly krimpets. Or butterscotch krimpets. Chocolate cupcakes. Dutch apple pies. And, best of all, chocolate Kandy Kakes.

So I’ve been watching with concern in recent months as Tasty Baking (TSTY) fell into financial disarray.

But this morning, the company has been saved.

Flowers Foods (FLO), a company based in Thomasville, Georgia (eew, Braves territory) announced a deal to acquire Tasty Baking for $4 a share in cash, for a total price of about $165 million, most of that the assumption of existing debt. Flowers said the deal will add $115 million to $125 million to its 2011 sales, generating $10 million to $12 million in additional 2011 EBITDA. Flowers said the deal will be neutral to slightly accretive to 2011 EPS.

Flowers expects the deal to boost 2012 rcvs by $210 million to $225 million, contributing $25 million to $30 million in EBITDA, and 6-9 cents a share in profits. The deal is expected to close in the second quarter.

Flowers Buys Tastykake; All The Good Things Wrapped Up In One - Eric Savitz - The Tech Trade - Forbes

 

[zelskid]

I have 102 shares

 

[zelskid]

I

I have 102 shares

also have yum