Schwan acquires Mrs Smith's business

The Schwan Food Co has agreed to purchase the frozen dessert business of Mrs Smith's Bakeries from Flowers Foods, headquartered in Thomasville GA. Marshall MN-based Schwan will pay about $240 million in cash for Mrs Smith's frozen dessert business, which includes the Stilwell OK and Spartanburg SC manufacturing facilities; the Mrs Smith's, Pet-Ritz, and related frozen dessert brands; foil press equipment in Pottstown PA; Mrs Smith's facilities in Suwanee GA; and Mrs Smith's frozen dessert inventories. Schwan will not purchase the frozen bread and roll portion of Mrs Smith's business.

Mrs Smith's produces a broad line of frozen desserts including pies, cakes, cobblers and pie crusts for the retail grocery trade. The company employs 1,087 people.