Milling & Baking News - March 24, 2020 - 74

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JANUARY 14,
2020

inessnews.net

WASHINGTO
N

Story on Page

LATE NEWS

30

Flowers exp
plant to han anding
dle organics

KANSAS
CITY -
Rallyin
disappointin
g performanceg following a
fore, the
the year
Grain-Based
besoared to
a record closeFoods Share Index
27004.09,
in 2019. Endin
the
g at
Baking News, index, compiled by
Milling &
rose 25.4%
The gain
during the
year since was the widest for year.
2000, when
a
35.5%, and
the index single
signaled
extended
a resumptionjumped
bull
foods shares market in grain- of the
based
that was
2018 with
interrupted
an 11.8%
in
decline. Before
the G.B.F.
index had
consecutive
posted gains 2018,
years.
nine
While shares
of food compa
consumer
staples in
nies and Dow Jones averag
the stock
gener
e
market durin al tend to lag and lagged mode of industrial shares
bull marke
rately the
in the S.&P.5
g the strong
28.8% jump
00
est the
Share Indexts, the Grain-Based
Nasdaq Indexand the 33.1% surge
Foods
tive to other held its own in
.
in
Among the
2019
markets.
relasector
was greate
r than a 21.8%The 25.4% gain Grain Based Foods s of the S.&P.500,
the
Share Index
of all but
advance
three. At
fell short
in the
25.4%, the
grain-based
Contin

RICHMON
D, VA. -
Inc. has
Flowers
unveiled
Foods,
plans
million to
expand and to invest $25
Lynchburg,
Va., baking transform its
an organ
facility
ic plant. The
in operat
facility has into
ion
"This expan for more than 40 been
years.
dous oppor sion represents a
ued on Page
trementunity
creasing deman for us to meet
22
the inBread (D.K.B d for our Dave'
s Killer
Project verifie .) organic, Non-G
MO
K. Alexander, d bread," said
MEXICO
Bradle
CITY
Flowers Foodschief operating officer y
Inc., a busine - Bimbo Baker
ies USA,
. "We chose
of
ss unit of
our Lynch
S.A.B. de
brand and
to conve
Grupo
burg
C.V.,
reasons, includ bakery for a numb rt
Bagels busine has acquired the Bimbo Ill. Conag a baking plant
er
in
Lende
ing
of
ra
Mattoon,
ss from
Brands acquir
its geogr
r's
tion, access
Inc., Chica
to key interst aphic locaed
go. Terms Conagra Brands, er's Bagels busin
and the
were not
ess as part the Lendof the transa
billion acquis
partnership ate highways,
disclo
of its $10.9
ction Inc.
ition of
we have
The transa sed.
Pinnacle
in 2018.
with
ction is expec
Continued
Foods,
the third
on Page 8
Lender's
ted to close
quarte
Bagels
in 1927,
The acquis r of fiscal 2020.
when Harry history dates back
ition includ
Lender started
to
York Bagel
es the Lende
Bakery in
the New
r's New
the family
Haven
garage in
into the late , Conn. As the busine
and Marvi 1950s, Harry's sons, ss grew
n, began
Murray
to
bagels to
keep up with freeze the bakery
's
defrosting
consumer
them for
deman
d,
higher-volum
end sales.
This techni
e weekcatalyst for
que
much of the proved to be the
the compa
ny and the future success for
product.
The Lende
r brothers
took owner
ship

LILAKID- STOCK.AD
OBE.COM

SANITARY
RIBBON
BLENDERS

Do I need

©JOYFOTO

EQUIPMENT

Grupo Bim
business bo acquires Lende
from Cona
gra Brandr's
s

Continued

001_MBN

on Page 11

_January1

4_20.indd

1

Call Jim White for more
information at 816-756-1000
or e-mail reprints@sosland.com

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74 / March 24, 2020

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