Tastykake Pies, in Their 75th Year, Help to Mark a Critical First Step Toward the Grand Opening of New Bakery
PHILADELPHIA--(BUSINESS WIRE)--Tasty Baking Company (NasdaqGM: TSTY), makers of the Tastykake® snack line, today announced the launch of initial baking operations at its state-of-the-art bakery within the Philadelphia Navy Yard. In transitioning its first product line, which will produce Tastykake’s legendary real fruit and custard-filled pies, Tasty Baking Company commences a strategic and phased approach to moving all of its famed product lines. The operational shift from the Hunting Park baking facility, where Tastykakes have been produced since 1922, to this new, LEED-registered bakery is expected to be completed by summer 2010. The corporate headquarters for Tasty Baking Company officially transitioned to the Philadelphia Navy Yard in April 2009.
“By commissioning our first product line in the new bakery, we take a significant step toward the completion of this transformative capital project and we reaffirm our commitment to providing Tastykake’s loyal customers with delicious, wholesome baked snacks ‘just like mother used to make,’” said Charles Pizzi, Chief Executive Officer for Tasty Baking Company. “The decision to begin this transition with Tastykake’s beloved pie portfolio was purposeful in that the new packaging consumers will enjoy not only enhances freshness but more importantly, reflects the immense opportunities for innovation and efficiencies that we anticipate with the grand opening of the new Tastykake Bakery in 2010.”
With tasty fillings, a light and flaky crust and new packaging, highlighted by each pie being baked in individually sized tins, the decision to first commission the Pie Line serves as an acknowledgement of its decades-long success. Celebrating Tastykake’s 75th year of baking fresh pies, these products remain iconic within a robust brand portfolio and their popularity is often linked to consumers’ desire to enjoy this homemade dessert daily as opposed to just special occasions.
Although pies are the first products to be baked for sale at Tastykake’s Philadelphia Navy Yard baking facility, its other iconic products - notably Krimpets®, Kandy Kakes® and Juniors® - will follow and Tasty Baking Company expects to announce the completion of the project and the finalized transition of its bakery operations to the new facility by summer 2010.
ABOUT TASTY BAKING COMPANY
Tasty Baking Company (Nasdaq:TSTY), founded in 1914 and headquartered in Philadelphia, Pennsylvania, is one of the country’s leading bakers of snack cakes, pies, cookies, and donuts with manufacturing facilities in Philadelphia and Oxford, Pennsylvania. Tasty Baking Company offers more than 100 products under the Tastykake brand name. For more information on Tasty Baking Company, visit www.tastykake.com. In addition, consumers can send Tastykake products throughout the United States from the Company’s website or by calling 1-800-33-TASTY.
Tasty Baking Company, a tenant of The Navy Yard, is a valued client to the Philadelphia Industrial Development Corporation (PIDC). The Navy Yard is a 1,200-acre, mixed-use development in South Philadelphia, managed by the Philadelphia Industrial Development Corporation with over 7,500 employees and 80 companies.
The Philadelphia Industrial Development Corporation, a private, not-for-profit corporation, was created in 1958 by the Greater Philadelphia Chamber of Commerce and the Commerce Department of the City of Philadelphia to promote economic development and job creation throughout the City. PIDC provides financing programs and real estate products to business and developer client groups in all neighborhoods of Philadelphia and is managing the redevelopment of The Navy Yard.
For further information on PIDC's role in The Navy Yard, contact Peter S. Longstreth, President, Philadelphia Industrial Development Corporation, 2600 Centre Square West, 1500 Market St., Philadelphia, PA 19102-2126, phone (215) 496-8181.
