The Associated Press reports that Flowers Foods, a Georgia maker of baked goods, has agreed to pay $34.4 million for Tasty Baking, the Philadelphia company that bakes iconic Tastykakes.
Philadelphia-based Tasty, whose line of packaged sweets includes Kandy Kakes and Krimpets, will become part of Flowers' direct-store-delivery business. Founded in 1914, Tasty Baking is one of the most well-known brands in the City of Brotherly Love and employs about 740 people in the Philadelphia region.
Flowers Foods, whose brands include Nature's Own and Bunny breads, has about 8,800 employees at its 39 bakeries.
Original source: Associated PressRead the full story here.