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                                                                    EXHIBIT 99.1






MARCH 16, 2001    COMPANY PRESS RELEASE    SOURCE: FLOWERS INDUSTRIES (NYSE:FLO)


FLOWERS INDUSTRIES, INC. COMMENCES TENDER OFFER

FOR THE FLOWERS INDUSTRIES, INC. 7.15% DEBENTURES DUE 2028

THOMASVILLE, GA--Flowers Industries, Inc. (NYSE:FLO) announced today the
commencement of a cash tender offer for any or all of its $200 million in
outstanding aggregate principal amount of 7.15% Debentures due 2028 (CUSIP No.
343496AB1) ( the "Debentures").

      The purchase price to be paid for each $1,000 in principal amount of
Debentures tendered will be based on a fixed spread of 220 basis points over the
yield to maturity of the 6 1/4% U. S. Treasury Bond due May 15, 2030, at 12:00
p.m., New York City time, on the second business day prior to the expiration
date, subject to a maximum price of $935 and a minimum price of $915 per $1,000,
plus accrued and unpaid interest on the Debentures to the date of payment.

      The tender offer will expire at 10:00 a.m., New York City time, on March
26, 2001, unless the offer is extended by the Company (the "Expiration Date").
The offer is conditioned upon (i) there being validly tendered and not properly
withdrawn not less than $120,000,000 in aggregate principal amount of the
outstanding Debentures, (ii) the consummation of the Company's previously
announced spin-off of its wholly owned subsidiary, Flowers Foods, Inc., which is
presently expected to occur on March 26, 2001, and (iii) there not having
occurred on or after the commencement of the offer, and being in existence on
the Expiration Date, any order, stay, decree, judgment or injunction that
prohibits the consummation of the offer.

      Tendered Debentures may be withdrawn at any time on or prior to 5:00 p.m.,
New York City time, on the date that is one business day following the public
announcement (by press release) that Debentures representing $120,000,000 in
aggregate principal amount of Debentures have been tendered. Thereafter,
Debentures that have been tendered may only be withdrawn if all validly tendered
Debentures have not been accepted for payment by 5:00 p.m., New York City time,
on the Expiration Date or if an event of default has occurred and is continuing
under the Indenture governing the Debentures.


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      The Company has entered into an agreement with holders of Debentures,
representing approximately $133,750,000 in principal amount of Debentures,
pursuant to which those holders have agreed to tender their Debentures by March
22, 2001.

         For additional information regarding the pricing, tender and delivery
procedures and conditions of the offer, reference is made to the Offer to
Purchase and related Letter of Transmittal documents dated March 16, 2001,
copies of which can be obtained from Morrow & Co. Inc., the Information Agent
for the offer. Requests for assistance or additional sets of the offering
materials may be directed to Morrow & Co. Inc. at (800) 654-2468 (banks and
brokerage firms) or (800) 607-0088 (holders). Morgan Stanley Dean Witter is the
Dealer Manager for the tender offer. Information concerning the current yield on
the Debentures can be obtained by contacting Morgan Stanley Dean Witter at (800)
624-1808.

         This announcement is not an offer to purchase or a solicitation of an
offer with respect to the Debentures. The tender offer is being made solely by
the Offer to Purchase dated March 16, 2001.

         Flowers Industries (NYSE: FLO), headquartered in Thomasville, GA., is a
national branded baked foods company which produces and markets a full line of
fresh and frozen packaged baked foods for retail, foodservice, in-store bakery,
institutional and vend providers. These products are sold under such well-known
brands as Mrs. Smith's, Nature's Own, and Cobblestone Mill. Flowers Industries
also currently holds a majority interest in Keebler Foods.



Statements contained in this press release that are not historical facts are
forward-looking statements. All forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ from those
projected. Other factors that may cause actual results to differ from the
forward-looking statements contained in this release and that may affect the
company's prospects in general include, but are not limited to, changes in
general economic and business conditions (including the baked foods markets),
the availability of capital on acceptable terms, actions of competitors and
customers, the extent to which the company is able to develop new products and
markets for its products and such other factors as are described in the
company's filings with the Securities and Exchange Commission.

Company Contacts: Marta Jones Turner, Vice President of Communications and
Investor Relations, (912) 227-2348; Mary Krier, Director of Communications,
(912) 227-2333


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