Sales to Winn-Dixie Stores, Inc. accounted for more than 10% of consolidated sales during fiscal year 1996. The loss of this customer could have a materially adverse effect on the Company's business.
At the end of the fiscal year, the Company and its subsidiaries had approximately 7,600 employees. Approximately 17% of these employees are covered by collective bargaining agreements, scheduled to expire at various times over the next three years.
The Company produces a full line of breads, rolls, snack cakes, sweet goods, doughnuts, cakes, pies, frozen fruit and vegetables and batter-dipped and breaded vegetables. These food products are distributed primarily in the Southeast, Central and Western United States through a distribution system of approximately 2,900 independent distributor and company-owned territories, leased and company-owned tractor-trailer trucks and common carriers. These products are sold by distributors, salesmen and food brokers primarily to restaurants, fast-food chains, foods wholesalers, institutions, supermarkets and vending companies. The Company also sells returned and surplus product through a system of independently operated and company-owned thrift outlets.
The Company's products are marketed under a variety of trademarks including both trademarks owned by the Company and certain franchised trademarks. Company-owned trademarks consist primarily of Flowers, BeeBo, Nature's Own, Stilwell, Breads International, Cobblestone Mill, Rich Grain, Evangeline Maid, Buttermaid, Dandee, Purity, Betsy Ross, Ideal, Holsum, Griffin, Bamby, Aunt Hannah, Jubilee, Our Special Touch, BlueBird, Oregon Farms and Mrs. Smith's. Franchised trademarks are primarily Sunbeam and Bunny.
The Company operates forty-two production facilities. The primary raw materials are flour, sugar and processed agricultural products. Commodities periodically experience price fluctuations and, for that reason, the market for these commodities is continuously monitored. The vegetable products are purchased under contract from an outside supplier. Inventories, which consist mainly of finished goods and have a modest aggregate dollar value in relation to sales, experience seasonal fluctuations associated primarily with harvest cycles.
As discussed in Note 13 of Notes to Consolidated Financial Statements, in January 1996, the Company acquired, for $62,000,000, an interest in INFLO Holdings Corporation, a newly formed joint venture between the Company and Artal Luxembourg S.A., which owns the Keebler Corporation.
Dividend Reinvestment Agent
Wachovia Bank of North Carolina, N.A.
Dividend Reinvestment Department
P.O. Box 3001
Winston-Salem, NC 27102-3001
1-800-633-4236
Form 10-K
The Company submits an annual report to the Securities and Exchange Commission on Form 10-K.
Shareholders may obtain a copy of this Form 10-K without charge by writing to:
Shareholder Relations Department
Flowers Industries, Inc.
P.O. Box 1338
Thomasville, GA 31799-1338
Independent Accountants
Price Waterhouse LLP, Atlanta, Georgia
Listed Securities and Ticker Symbols
Common Stock: New York Stock ExchangeÜFLO
Investor Relations
Investors, analysts, and others seeking financial data should contact:
C. Martin Wood III
Senior Vice President and Chief Financial Officer
Telephone: (912) 226-9110
General Information
News media and others seeking general information should contact:
Mary A. Krier
Manager of Communications
Telephone: (912) 226-9110
Internet Access
Earnings announcements, quarterly and annual report summaries, and other
company and product information are posted on the InternetÍs World Wide Web at http://www.flowersindustries.com.
Flowers Industries, Inc. is an equal opportunity employer.