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.
During Dave West's tenure as CEO, Hershey accelerated top and bottom-line growth. In his new position, he is expected to lead Del Monte in the next phase of its development and growth.
The manufacturer and marketer of Nature Made vitamins, minerals, herbs and other supplements and SOYJOY nutrition bars, will leverage several components of the Retail Solutions suite.
Shares of General Mills climbed to the highest level since June 2010 on speculation that the maker of Cheerios cereal may be acquired by Nestle SA. Members of the media and financial analysts have mixed views about the validity of the rumors, but most agree that the combination would be a logical match.
