Hostess To Sell Wonder Bread To Maker Of Tastykake

Wonder Bread (Canadian packaging)

Wonder Bread (Canadian packaging) (Photo credit: Wikipedia)

NEW YORK – Hostess has found a new home for its most popular breads, including the iconic Wonder bread.

The bankrupt maker of Twinkies, Devil Dogs and other snack cakes said late Friday that it selected bids by rival bakery Flower Foods Inc. to buy six of its bread brands for $390 million.  Flower Foods, based in Thomasville, Ga., is best known for Tastykakes but also makes breads including Nature’s Own and Cobblestone Mill.

Hostess is expected to announce buyers for its famed dessert cakes in coming weeks.  The company has said a wide variety of parties have expressed interest in its brands, including national supermarket chains and the makers of brand name packaged foods.

Read more: http://www.philly.com/philly/business/20130111_ap_hostesstosellwonderbreadtomakeroftastykake.html#ixzz2HmIltonK
Watch sports videos you won’t find anywhere else

Advertisements

Twinkies Maker Hostess: 110 Suitors Are Lined Up

NEW YORK – The future of Twinkies is virtually assured.

Hostess Brands Inc. got final approval for its wind-down plans in bankruptcy court Thursday, setting the stage for its roster of snack cakes to find a second life with new owners – even as 18,000 jobs will be wiped out.

The company said in court that it’s in talks with 110 potential buyers for its brands, which include CupCakes, Ding Dongs and Ho Hos.  The suitors include at least five national retailers such as supermarkets, a financial advisor for the company said.  The process has been “so fast and furious” Hostess wasn’t able to make its planned calls to potential buyers, said Joshua Scherer of Perella Weinberg Partners.

“Not only are these buyers serious, but they are expecting to spend substantial sums,” he said.

Read more:  http://business-news.thestreet.com/the-mercury/story/twinkies-maker-hostess-110-suitors-are-lined-0/1

Hostess, Maker Of Twinkies, To Close

Hostess Brands Inc. says it’s going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs, Wonder Bread and other snacks.

The company had warned employees that it would file a motion with U.S. Bankruptcy Court today seeking permission to shutter its operations and sell assets if plants didn’t resume normal operations by a Thursday evening deadline.

The closing would mean the loss of about 18,500 jobs.

“Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands,” CEO Gregory Rayburn said in a letter to employees posted on the company website.

Read more:  http://readingeagle.com/article.aspx?id=428558