Sale to Schwan completed

Flowers Foods has announced the completion of the sale of Mrs Smith's frozen dessert business to The Schwan Food Co. The transaction was structured as a sale of assets for cash and was valued at about $240 million.

The sale of Mrs Smith's is part of the company's ongoing effort to enhance financial performance and shareholder value. Flowers Foods will continue to operate its fresh bread and roll business as well as the snack cake and frozen bread and roll businesses.