Flowers Foods in acquisition

Bakery company Flowers Foods is buying Tastykake-maker Tasty Baking Co, for £21.09m in an all-cash deal. Flowers, whose brands include Nature’s Own and Whitewheat, will add between $115-$125m (£70-77m) in 2011 sales with the acquisition. Deals in the snack food sector over the past year include the acquisition of Pringles by Diamond Foods from P&G.