"If it ain't broke, don't fix it," the old adage goes. Flowers Foods Inc., which debuted at No. 12 on the IndustryWeek 50 Best Manufacturing Companies list in 2010, is a classic example of that adage in action.
The Thomasville, Ga.-based producer of packaged bakery goods, which serves retail and foodservice customers in the Southeast, Southwest and mid-Atlantic regions of the United States, has become a model of consistency by staying true to its core business principles: driving sales and profitability through innovation, acquisitions, strong brands and operational efficiency.
"Our operating strategies are right and our business model is sound," declared Chairman and CEO George Deese and President Allen Shiver in the company's 2010 annual report. "Flowers Foods has staying power because we have invested in bakeries, products, brands, technology, distribution systems and our team."
The company "exited 2009 better positioned than we entered it," Deese and Shiver noted in the annual report. In fiscal year 2009, Flowers Foods posted revenues of $2.6 billion, a 7.7% increase over 2008; net income of $130.3 million, a 9.3% increase over 2008; and earnings per share of $1.41, up from $1.28 in 2008.
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