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  "documentTitle": "Barclays Investor Presentation 2018",
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  "authorName": "Flowers Foods",
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      "text": "Enhances portfolio strategy, increasing proforma 2024 branded retail sales as a percentage of total net sales to approximately 66%.",
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      "text": "(1) Any reference to sales refers to net sales inclusive of allowances and deductions against gross sales. (2) Earnings before interest, taxes, depreciation and amortization, adjusted for matters affecting comparability. (3) Earnings before interest, taxes, depreciation and amortization, adjusted for matters affecting comparability, as a percentage of net sales. (4) No reconciliation of expected adjusted EBITDA to net income or the expected adjusted EBITDA margin to net income margin is included in this presentation because the company is unable to quantify certain amounts that would be required to be included in the GAAP measure without unreasonable efforts. In addition, the company believes such reconciliation would imply a degree of precision that would be confusing or misleading to investors.",
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      "text": "ATTRACTIVE FINANCIAL PROFILE: Expected to be immediately accretive to net sales and adjusted EBITDA; Expected to be accretive to Flowers' adjusted EPS in 2026.",
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      "text": "DIVERSIFIES CATEGORY EXPOSURE: Bolsters position in better-for-you snacking; Enhances portfolio strategy (66% proforma sales); Extends across multiple categories.",
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      "text": "ENHANCES GROWTH PROSPECTS: Adds a scaled, better-for-you snacking platform; Enables future growth; Leverages Flowers' demonstrated ability to grow acquired companies.",
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