Milling & Baking News - January 22, 2013 - 1

THE NEWS WEEKLY OF GRAIN-BASED FOODS
JANUARY 22, 2013

bakingbusiness.com / foodbusinessnews.net

Flowers Foods named stalking horse
bidder for Hostess bread brands

NEWS

W.G.C. fights back
after criticisms in
Harvard study
Story on Page 31

LATE NEWS

IRVING, TEXAS — Flowers Foods Inc.,
Thomasville, Ga., has emerged as the
likely buyer for the majority of the bread
assets of Hostess Brands Inc., Irving, according to announcements made Jan. 11
by both companies.
Hostess said Flowers has been selected as the stalking horse bidder for the
majority of the assets related to the company’s bread business, including the
Wonder, Home Pride, Merita, Butternut
and Nature’s Pride brands.
Under the agreement, Flowers would
pay $355 million in cash (up to $360 million if certain license rights are included
in the sale), for the brands, 20 baking
plants, 38 depots and other assets.
Flowers also was selected as stalking
horse bidder for the Hostess Beefsteak
bread brand in a transaction that would
Continued on Page 9

C.P.I. for baked foods,
cereal solid in 2012
WASHINGTON — The Consumer
Price Index for baked foods and cereal products again finished higher
in 2012, rising 2.8%, which followed
a gain of 3.9% in 2011. The index
fell 0.8% in 2010, but previously had
scored gains of 4.4%, 10.2% and 3.2%
in 2007, 2008 and 2009, respectively.
For the second consecutive year, every
grain-based foods category again was
stronger. Within the Cereal and Bakery
Products category, every sub-category
posted an increase of greater than 2%
during 2012. For the second consecutive year, the sharpest gain was scored
in the flour and prepared flour mixes
sub-category, which rose 5.3% after
Continued on Page 8

Stock Market Analysis

Ingredient price problems seen
trying industry again in 2013

W

hen it comes to what was
a highly disruptive force
in grain-based foods last
year, the new year likely is creating
a feeling of déjà vu, according to investment analysts. While optimism
about 2013 costs held through much
of last year, hopes for calmer ingredient markets were dashed by the
drought that prevailed through the
summer and beyond.
“It would appear 2013 is going to

look a lot like 2012 for grain-based
manufacturers,” said Mitchell B.
Pinheiro, a Philadelphia-based investment analyst. “Just when you
thought there would be some relief
in wheat, it spiked, and that cost
inflation will eat into 2013 earnings. The problem is pricing. Last
year, once again, volumes were hit.
I think it is going to be a case where
manufacturers will have to hold the
line on pricing and see their margins hit or take pricing and their
volumes will suffer.
“In the summer, I thought 2013
would have a pretty good tail wind
from a cost perspective, and they
would be able to reinvest in the
brands with the improved margins. That scenario has fizzled
Continued on Page 22


http://www.bakingbusiness.com http://www.foodbusinessnews.net

Milling & Baking News - January 22, 2013

Table of Contents for the Digital Edition of Milling & Baking News - January 22, 2013

Milling & Baking News - January 22, 2013
Flowers Foods named stalking horse bidder for Hostess bread brands
Stock Market Analysis - Ingredient price problems seen trying industry again in 2013
Late News - C.P.I. for baked foods, cereal solid in 2012
Table of Contents
News/Comment - Historical ties of wheat and corn unique in ‘12-13
Editorial - Holding mirror to European flour milling
Late News
Acquisition would boost Flowers presence in rye bread category
Bimbo to build $75 million baking plant in Pennsylvania
Post purchases Attune Foods
Nonni’s Foods acquires biscotti and specialty cookie maker
Regulatory Affairs - Baking to prepare comments on new food safety rule
A.B.A. claims victory in warehouse exemption effort
Industry Activities - James Meyer named NAMA chairman with departure of Greg Schlafer
Siemer Milling honored by Loyola University Chicago business school
Financial Results - Cargill earnings move higher in second quarter
CHS earnings fall as ag business profit softens in quarter
Data - Winter wheat seedings, wheat stocks below expectations
Washington - Vilsack to remain secretary of agriculture
House agriculture committee members named
Grain and Milling Management - Nominations solicited for Milling Operative of the Year
Washington - Who is the customer?
Nutrition and Health - Harvard researchers question whole grain standards
W.G.C. sees inaccuracies in Harvard whole grains study
Ingredient Market Trends - Competitors make inroads on U.S. corn and soybean exports
Ingredient Week
Supplier Innovations
Classifieds
Marketplace Business Network
Ad Index
Archive
Milling & Baking News - January 22, 2013 - Late News - C.P.I. for baked foods, cereal solid in 2012
Milling & Baking News - January 22, 2013 - 2
Milling & Baking News - January 22, 2013 - 3
Milling & Baking News - January 22, 2013 - News/Comment - Historical ties of wheat and corn unique in ‘12-13
Milling & Baking News - January 22, 2013 - 5
Milling & Baking News - January 22, 2013 - 6
Milling & Baking News - January 22, 2013 - Editorial - Holding mirror to European flour milling
Milling & Baking News - January 22, 2013 - Late News
Milling & Baking News - January 22, 2013 - 9
Milling & Baking News - January 22, 2013 - Acquisition would boost Flowers presence in rye bread category
Milling & Baking News - January 22, 2013 - Nonni’s Foods acquires biscotti and specialty cookie maker
Milling & Baking News - January 22, 2013 - A.B.A. claims victory in warehouse exemption effort
Milling & Baking News - January 22, 2013 - 13
Milling & Baking News - January 22, 2013 - Siemer Milling honored by Loyola University Chicago business school
Milling & Baking News - January 22, 2013 - 15
Milling & Baking News - January 22, 2013 - CHS earnings fall as ag business profit softens in quarter
Milling & Baking News - January 22, 2013 - Data - Winter wheat seedings, wheat stocks below expectations
Milling & Baking News - January 22, 2013 - 18
Milling & Baking News - January 22, 2013 - House agriculture committee members named
Milling & Baking News - January 22, 2013 - Grain and Milling Management - Nominations solicited for Milling Operative of the Year
Milling & Baking News - January 22, 2013 - 21
Milling & Baking News - January 22, 2013 - 22
Milling & Baking News - January 22, 2013 - 23
Milling & Baking News - January 22, 2013 - 24
Milling & Baking News - January 22, 2013 - 25
Milling & Baking News - January 22, 2013 - 26
Milling & Baking News - January 22, 2013 - 27
Milling & Baking News - January 22, 2013 - Washington - Who is the customer?
Milling & Baking News - January 22, 2013 - 29
Milling & Baking News - January 22, 2013 - Nutrition and Health - Harvard researchers question whole grain standards
Milling & Baking News - January 22, 2013 - W.G.C. sees inaccuracies in Harvard whole grains study
Milling & Baking News - January 22, 2013 - 32
Milling & Baking News - January 22, 2013 - Ingredient Market Trends - Competitors make inroads on U.S. corn and soybean exports
Milling & Baking News - January 22, 2013 - Ingredient Week
Milling & Baking News - January 22, 2013 - 35
Milling & Baking News - January 22, 2013 - 36
Milling & Baking News - January 22, 2013 - 37
Milling & Baking News - January 22, 2013 - 38
Milling & Baking News - January 22, 2013 - 39
Milling & Baking News - January 22, 2013 - 40
Milling & Baking News - January 22, 2013 - Supplier Innovations
Milling & Baking News - January 22, 2013 - Classifieds
Milling & Baking News - January 22, 2013 - Marketplace Business Network
Milling & Baking News - January 22, 2013 - 44
Milling & Baking News - January 22, 2013 - Ad Index
Milling & Baking News - January 22, 2013 - Archive
Milling & Baking News - January 22, 2013 - 47
Milling & Baking News - January 22, 2013 - 48
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https://www.nxtbook.com/sosland/mbn/2016_06_07
https://www.nxtbook.com/sosland/mbn/2016_05_24
https://www.nxtbook.com/sosland/mbn/2016_05_10
https://www.nxtbook.com/sosland/mbn/2016_04_26
https://www.nxtbook.com/sosland/mbn/2016_04_12
https://www.nxtbook.com/sosland/mbn/2016_03_29
https://www.nxtbook.com/sosland/mbn/2016_03_15
https://www.nxtbook.com/sosland/mbn/2016_03_01
https://www.nxtbook.com/sosland/mbn/2016_02_16
https://www.nxtbook.com/sosland/mbn/2016_02_02
https://www.nxtbook.com/sosland/mbn/2016_01_19
https://www.nxtbook.com/sosland/mbn/2016_01_05
https://www.nxtbook.com/sosland/mbn/2015_12_22
https://www.nxtbook.com/sosland/mbn/2015_12_08
https://www.nxtbook.com/sosland/mbn/2015_11_24
https://www.nxtbook.com/sosland/mbn/2015_11_10
https://www.nxtbook.com/sosland/mbn/2015_10_27
https://www.nxtbook.com/sosland/mbn/2015_10_13
https://www.nxtbook.com/sosland/mbn/2015_09_29
https://www.nxtbook.com/sosland/mbn/2015_09_15
https://www.nxtbook.com/sosland/mbn/2015_09_01
https://www.nxtbook.com/sosland/mbn/2015_08_18
https://www.nxtbook.com/sosland/mbn/2015_08_04
https://www.nxtbook.com/sosland/mbn/2015_07_21
https://www.nxtbook.com/sosland/mbn/2015_07_07
https://www.nxtbook.com/sosland/mbn/2015_06_23
https://www.nxtbook.com/sosland/mbn/2015_06_09
https://www.nxtbook.com/sosland/mbn/2015_05_26
https://www.nxtbook.com/sosland/mbn/2015_05_12
https://www.nxtbook.com/sosland/mbn/2015_04_28
https://www.nxtbook.com/sosland/mbn/2015_04_014
https://www.nxtbook.com/sosland/mbn/2015_03_31
https://www.nxtbook.com/sosland/mbn/2015_03_17
https://www.nxtbook.com/sosland/mbn/mbn/2015_03__03
https://www.nxtbook.com/sosland/mbn/2015_02_17
https://www.nxtbook.com/sosland/mbn/2015_02_03
https://www.nxtbook.com/sosland/mbn/2015_01_20
https://www.nxtbook.com/sosland/mbn/2015_01_06
https://www.nxtbook.com/sosland/mbn/2014_12_23
https://www.nxtbook.com/sosland/mbn/2014_12_09
https://www.nxtbook.com/sosland/mbn/mbn_2014_11_25
https://www.nxtbook.com/sosland/mbn/2014_11_11
https://www.nxtbook.com/sosland/mbn/2014_10_28
https://www.nxtbook.com/sosland/mbn/2014_10_14
https://www.nxtbook.com/sosland/mbn/2014_09_30
https://www.nxtbook.com/sosland/mbn/2014_09_16
https://www.nxtbook.com/sosland/mbn/2014_09_02
https://www.nxtbook.com/sosland/mbn/214_08_19
https://www.nxtbook.com/sosland/mbn/2014_08_01
https://www.nxtbook.com/sosland/mbn/2014_07_22
https://www.nxtbook.com/sosland/mbn/2014_07_08
https://www.nxtbook.com/sosland/mbn/2014_06_24
https://www.nxtbook.com/sosland/mbn/2014_06_10
https://www.nxtbook.com/sosland/mbn/2014_05_27
https://www.nxtbook.com/sosland/mbn/2014_05_13
https://www.nxtbook.com/sosland/mbn/2014_04_29
https://www.nxtbook.com/sosland/mbn/2014_04_15
https://www.nxtbook.com/sosland/mbn/2014_04_01
https://www.nxtbook.com/sosland/mbn/2014_03_18
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https://www.nxtbook.com/sosland/mbn/2014_02_18
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https://www.nxtbook.com/sosland/mbn/2014_01_21
https://www.nxtbook.com/sosland/mbn/2014_01_07
https://www.nxtbook.com/sosland/mbn/2013_12_24
https://www.nxtbook.com/sosland/mbn/2013_12_10
https://www.nxtbook.com/sosland/mbn/2013_11_26
https://www.nxtbook.com/sosland/mbn/2013_11_12
https://www.nxtbook.com/sosland/mbn/2013_10_29
https://www.nxtbook.com/sosland/mbn/2013_10_15
https://www.nxtbook.com/sosland/mbn/2013_10_01
https://www.nxtbook.com/sosland/mbn/2013_09_17
https://www.nxtbook.com/sosland/mbn/2013_09_03
https://www.nxtbook.com/sosland/mbn/2013_08_20
https://www.nxtbook.com/sosland/mbn/2013_08-06
https://www.nxtbook.com/sosland/mbn/2013_07_23
https://www.nxtbook.com/sosland/mbn/2013_07_09
https://www.nxtbook.com/sosland/mbn/2013_06_25
https://www.nxtbook.com/sosland/mbn/2013_06_11
https://www.nxtbook.com/sosland/mbn/2013_05_28
https://www.nxtbook.com/sosland/mbn/2013_05_14
https://www.nxtbook.com/sosland/mbn/2013_04_30
https://www.nxtbook.com/sosland/mbn/2013_04_16
https://www.nxtbook.com/sosland/mbn/2013_04_02
https://www.nxtbook.com/sosland/mbn/2013_03_19
https://www.nxtbook.com/sosland/mbn/2013_03_05
https://www.nxtbook.com/sosland/mbn/2013_02_19
https://www.nxtbook.com/sosland/mbn/2013_02_05
https://www.nxtbook.com/sosland/mbn/2013_01_22
https://www.nxtbook.com/sosland/mbn/2013_01_08
https://www.nxtbook.com/sosland/mbn/2012_12_25
https://www.nxtbook.com/sosland/mbn/2012_12_11
https://www.nxtbook.com/sosland/mbn/2012_11_27
https://www.nxtbook.com/sosland/mbn/2012_11_13
https://www.nxtbook.com/sosland/mbn/2012_10_30
https://www.nxtbook.com/sosland/mbn/2012_10_16
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https://www.nxtbook.com/sosland/mbn/2012_09_18
https://www.nxtbook.com/sosland/mbn/2012_09_04
https://www.nxtbook.com/sosland/mbn/2012_08_21
https://www.nxtbook.com/sosland/mbn/2012_08_07
https://www.nxtbook.com/sosland/mbn/2012_07_24
https://www.nxtbook.com/sosland/mbn/2012_07_10
https://www.nxtbook.com/sosland/mbn/2012_06_26
https://www.nxtbook.com/sosland/mbn/2012_06_12
https://www.nxtbook.com/sosland/mbn/2012_05_29
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https://www.nxtbook.com/sosland/mbn/2012_05_01
https://www.nxtbook.com/sosland/mbn/2012_04_17
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https://www.nxtbook.com/sosland/mbn/2012_03_20
https://www.nxtbook.com/sosland/mbn/2012_03_06
https://www.nxtbook.com/sosland/mbn/2012_02_21
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https://www.nxtbook.com/sosland/mbn/2012_01_24
https://www.nxtbook.com/sosland/mbn/2012_01_10
https://www.nxtbook.com/sosland/mbn/2011_12_27
https://www.nxtbook.com/sosland/mbn/2011_12_13
https://www.nxtbook.com/sosland/mbn/2011_11_29
https://www.nxtbook.com/sosland/mbn/2011_11_15
https://www.nxtbook.com/sosland/mbn/2011_11_01
https://www.nxtbook.com/sosland/mbn/2011_10_18
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https://www.nxtbook.com/sosland/mbn/2011_09_20
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https://www.nxtbook.com/sosland/mbn/2011_08_23
https://www.nxtbook.com/sosland/mbn/2011_08_09
https://www.nxtbook.com/sosland/mbn/2011_07_26
https://www.nxtbook.com/sosland/mbn/2011_07_12
https://www.nxtbook.com/sosland/mbn/2011_06_28
https://www.nxtbook.com/sosland/mbn/2011_06_14
https://www.nxtbook.com/sosland/mbn/2011_05_31
https://www.nxtbook.com/sosland/mbn/2011_05_17
https://www.nxtbook.com/sosland/mbn/2011_05_03
https://www.nxtbook.com/sosland/mbn/2011_04_19
https://www.nxtbook.com/sosland/mbn/2011_04_05
https://www.nxtbook.com/sosland/mbn/2011_03_22
https://www.nxtbook.com/sosland/mbn/2011_03_08
https://www.nxtbook.com/sosland/mbn/2011_02_22
https://www.nxtbook.com/sosland/mbn/2011_02_08
https://www.nxtbook.com/sosland/mbn/2011_01_25
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https://www.nxtbook.com/sosland/mbn/2010_12_28
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https://www.nxtbook.com/sosland/mbn/2010_10_19
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https://www.nxtbook.com/sosland/mbn/2010_09_21
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https://www.nxtbook.com/sosland/mbn/2010_08_24
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https://www.nxtbook.com/sosland/mbn/2010_04_20
https://www.nxtbook.com/sosland/mbn/2010_04_06
https://www.nxtbook.com/sosland/mbn/2010_03_23
https://www.nxtbook.com/sosland/mbn/2010_03_09
https://www.nxtbook.com/sosland/mbn/2010_02_23
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https://www.nxtbook.com/sosland/mbn/2010_01_26
https://www.nxtbook.com/sosland/mbn/2010_01_12
https://www.nxtbook.com/sosland/mbn/2009_12_29
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https://www.nxtbook.com/sosland/mbn/2009_12_01
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https://www.nxtbook.com/sosland/mbn/2009_09_22
https://www.nxtbook.com/sosland/mbn/2009_09_08
https://www.nxtbook.com/sosland/mbn/2009_08_25
https://www.nxtbook.com/sosland/mbn/2009_08_11
https://www.nxtbook.com/sosland/mbn/2009_07_28
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https://www.nxtbook.com/sosland/mbn/2009_06_30
https://www.nxtbook.com/sosland/mbn/2009_06_16
https://www.nxtbook.com/sosland/mbn/2009_06_02
https://www.nxtbook.com/sosland/mbn/2009_05_19
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https://www.nxtbook.com/sosland/mbn/2009_04_21
https://www.nxtbook.com/sosland/mbn/2009_04_08
https://www.nxtbook.com/sosland/mbn/2009_04_07
https://www.nxtbook.com/sosland/mbn/2009_03_24
https://www.nxtbook.com/sosland/mbn/2009_03_10
https://www.nxtbook.com/sosland/mbn/2009_02_24
https://www.nxtbook.com/sosland/mbn/2009_02_10
https://www.nxtbook.com/sosland/mbn/2009_01_27
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https://www.nxtbook.com/sosland/mbn/2008_12_16
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https://www.nxtbook.com/sosland/mbn/2008_11_18
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https://www.nxtbook.com/sosland/mbn/2008_10_21
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https://www.nxtbook.com/sosland/mbn/2008_09_23
https://www.nxtbook.com/sosland/mbn/2008_09_09
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https://www.nxtbook.com/sosland/mbn/2008_04_22
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https://www.nxtbook.com/sosland/mbn/2008_04_01
https://www.nxtbook.com/sosland/mbn/2008_03_25
https://www.nxtbook.com/sosland/mbn/2008_03_11
https://www.nxtbook.com/sosland/mbn/2008_02_26
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https://www.nxtbook.com/sosland/mbn/2007_11_20
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https://www.nxtbook.com/sosland/mbn/2006_12_19
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https://www.nxtbook.com/sosland/mbn/2004_06_15
https://www.nxtbook.com/sosland/mbn/2004_06_08
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