Flowers Foods and Tasty Baking Co. Merger

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Flowers Foods says it's agreed to purchase the Philadelphia-based Tasty Baking Company, which is famous for its Tastykake brand.

The company will shell out a cool 34 million in cash for the company.

Flowers President Allen Shiver says he thinks the acquisition will only strengthen the company and widen its customer pool.

"The primary reason for the merger with TastyKake is to grow total top line sales, so the opportunity with TastyKake on Flowers routes is also using TastyKake customer relationships and access to markets." Shiver says.

Tasty Baking Company says it's also 'excited' about the merger and the fact that its products will continue to be manufactured in Philadelphia.