This transaction fits into ConAgra Foods' acquisition strategy, which seeks to add depth and strength to its existing product lines in key strategic pillars such as convenient meals, snacks and meal enhancers.
With the company's successful financial restructuring and subsequent integration with JBS USA now largely complete, the timing seemed right for an executive transition.
The merger creates a larger business with a complementary portfolio of high-quality bakery products and deepens Flowers' penetration of the estimated $4 billion U.S. snack cake category.
The new executive's broad experience in developed and emerging markets is expected to be a significant asset as Avon continues to advance on its path to sustainable profitable growth.
