Flowers Foods has announced key appointments at Tasty Baking Company, marking the beginning of the integration process between the two companies following the completion of a merger in late May.
Paul D. Ridder, who was Tasty Baking’s senior vice president and chief financial officer, has been named president of Tasty Baking Company in Philadelphia. Dan Scott, previously vice president of sales at Flowers’ Lynchburg, VA, bakery, has been promoted to president of Tasty Baking Oxford.
“Paul and Dan will play important roles as we combine vital business functions and processes and shape our strategy in expanding the geographic distribution of Tastykakes and Flowers’ Nature’s Own breads,” said Allen L. Shiver, Flowers Foods’ president.
Charles P. Pizzi, who served as president and CEO of Tasty Baking, will serve in a consulting capacity during the integration and as an advisor to Flowers over the longer term.
“We appreciate Charlie’s willingness to assist with the integration and to serve as an advisor as we work to maintain the heritage of Tastykake in its traditional markets while expanding the brand to new consumers in the South and Southwest,” Shiver said.
“Flowers and Tasty have similar cultures, traditions, and histories and we will build on those similarities as we integrate our two companies. We recognize that the Tastykake brand is very special and that consumers expect Tastykakes to deliver freshness and delicious taste. Tastykakes will continue to be made in Philadelphia and Oxford, using the same recipes that created the iconic brand,” Shiver continued.
Ridder joined Tasty Baking in 2007 as vice president, corporate controller, and chief accounting officer, and was appointed to senior vice president and chief financial officer in 2008. He holds a bachelor’s degree and a master’s in business administration from Bucknell University and Villanova University, respectively, and is a certified public accountant.
Scott joined Flowers’ Jamestown, NC, bakery in 1999 and during the course of his 12-year career with the company, has held a number of sales management positions. He was promoted to vice president of sales of Flowers’ Lynchburg bakery in 2005. Scott holds a bachelor’s degree in marketing from the University of South Carolina.
The Flowers-Tasty Baking Company cash merger was completed May 25 for a total price of $175 million, including the payoff of Tasty’s indebtedness and transaction expenses.
Flowers Foods, Inc. (NYSE:FLO) and Tasty Baking Company today announced the completion of Flowers’ all cash merger with Tasty Baking Company for a total purchase price of approximately $175 million, including the payoff of Tasty’s indebtedness and transaction expenses.
With the completion of the merger, Tasty is now a wholly owned subsidiary of Flowers and is part of Flowers’ direct-store-delivery segment.
“The Tasty merger is consistent with our growth strategy and we look forward to the opportunities ahead,” said George E. Deese, chairman of the board and CEO of Flowers Foods. “We extend a warm welcome to Tasty’s team members and independent sales distributors. Working together, we can bring the Tastykake brand to consumers in the South and Southwest and introduce our Nature’s Own soft variety breads through Tasty’s distribution area in the heart of the Northeast Corridor. With the addition of Tasty’s distribution network, Flowers now has access to 61 percent of the U.S. population through direct-store-delivery.
“We recognize that consumers hold Tastykake in very high regard when it comes to product quality and freshness,” Deese said. “Tastykakes will continue to be made by team members at the Navy Yard (Philadelphia) and Oxford, PA, bakeries, using the same recipes and local ingredients that have created such strong consumer loyalty for the Tastykake brand.”