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Acquisition (Tables) | 6 Months Ended
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Jul. 12, 2025
Business Combination [Abstract] |
Summary of Consideration Paid and Identifiable Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair value of purchase consideration paid for Simple Mills and the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed based on their estimated fair value. The goodwill, identifiable intangible assets, taxes, and certain other assets and liabilities are still under review. When relevant information is obtained, resulting changes to our provisional purchase price allocation are adjusted to reflect new information obtained about the facts and circumstances that existed as of the respective acquisition date that, if known, would have affected the measurement of the amounts recognized as of those dates. We recognized a $19.0 million goodwill measurement period adjustment related to the valuation of trademarks and customer relationships, deferred taxes and assumed liabilities during the second quarter of Fiscal 2025. The impact to the amortization expense on the Condensed Consolidated Statements of Income is immaterial for the twelve and twenty-eight weeks ended July 12, 2025 (amounts in thousands):
|  | Initial Preliminary Allocation |  |  | Measurement Period Adjustments |  |  | Updated Preliminary Allocation |
Fair value of consideration transferred: |  |  |  |  |  |  |  |  |
Cash consideration paid at closing |  | $ | 830,713 |  |  | $ | — |  |  | $ | 830,713 |
Payable to seller |  |  | 17,824 |  |  |  | 48 |  |  |  | 17,872 |
Total consideration |  | $ | 848,537 |  |  | $ | 48 |  |  | $ | 848,585 |
Recognized amounts of identifiable assets acquired and liabilities assumed: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 38,833 |  |  | $ | — |  |  | $ | 38,833 |
Accounts receivable, net of allowances |  |  | 18,065 |  |  |  | — |  |  |  | 18,065 |
Inventories |  |  | 19,612 |  |  |  | — |  |  |  | 19,612 |
Property, plant, and equipment |  |  | 1,729 |  |  |  | — |  |  |  | 1,729 |
Operating lease right-of-use assets |  |  | 1,668 |  |  |  | — |  |  |  | 1,668 |
Customer relationships |  |  | 173,100 |  |  |  | 4,700 |  |  |  | 177,800 |
Trademarks - infinite-lived |  |  | 334,300 |  |  |  | 21,100 |  |  |  | 355,400 |
Other financial assets |  |  | 1,936 |  |  |  | — |  |  |  | 1,936 |
Total identifiable assets acquired |  | $ | 589,243 |  |  | $ | 25,800 |  |  | $ | 615,043 |
Current maturities of operating leases |  |  | 1,172 |  |  |  | — |  |  |  | 1,172 |
Accounts payable |  |  | 14,702 |  |  |  | — |  |  |  | 14,702 |
Other financial liabilities |  |  | 7,621 |  |  |  | 274 |  |  |  | 7,895 |
Deferred income taxes, net |  |  | 104,098 |  |  |  | 6,450 |  |  |  | 110,548 |
Total liabilities assumed |  | $ | 127,593 |  |  | $ | 6,724 |  |  | $ | 134,317 |
Total identifiable net assets acquired |  | $ | 461,650 |  |  | $ | 19,076 |  |  | $ | 480,726 |
Goodwill |  | $ | 386,887 |  |  | $ | (19,028 | ) |  | $ | 367,859 |
Schedule of Acquired Intangible Assets Subject to Amortization | The following table presents the acquired intangible assets subject to amortization (amounts in thousands, except amortization periods):
|  | Total |  |  | Amortization years |  | Amortization Method
Customer relationships |  | $ | 177,800 |  |  | 17 |  | Straight-line
Trademarks |  |  | 355,400 |  |  | Indefinite |  | N/A
Total intangible assets |  | $ | 533,200 |  |  |  |  |
Schedule of Supplemental Pro Forma Revenue And Net Earnings of The Combined Entity Had The Acquisition Date | The following table provides the supplemental pro forma net sales and net income of the combined entity had the acquisition date of Simple Mills been December 31, 2023, the first day of Fiscal 2024 (amounts in thousands):
| For the Twelve Weeks Ended |  |  | For the Twenty-Eight Weeks Ended |
| July 12, 2025 |  |  | July 13, 2024 |  |  | July 12, 2025 |  |  | July 13, 2024 |
Net sales | $ | 1,242,835 |  |  | $ | 1,282,398 |  |  | $ | 2,832,952 |  |  | $ | 2,912,401 |
Net income attributable to Flowers Foods | $ | 60,746 |  |  | $ | 59,503 |  |  | $ | 119,457 |  |  | $ | 111,529 |

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