The infamously bankrupt Hostess Brands Inc. unloaded some of its brands earlier this month onto Flowers Foods, and is now about to receive initial bids for some of its bread brands and its Drake’s snack cakes. An anonymous source told Thomson Reuters that the deals may be officially announced later today.
McKee Foods, the maker of Little Debbie snack cakes, and United States Bakery Inc., also known as Franz Family Bakery, are both expected to offer about $27 million to purchase Drake’s and the bread brands, respectively.
Drake’s is known for snack cakes such as Ring Dings and Yodels. The bread brands that United States Bakery is sniffing around include Sweetheart, Grandma Emilie’s and Standish Farms.
It should be noted that the Twinkies brand is still available for purchase, if you’ve been saving up for something special.
Read more about Hostess on InsideCounsel:
Flowers Foods will buy some Hostess brands
Hostess’s union requests Chapter 11 trustee supervise liquidation
Court grants Hostess permission to liquidate
Hostess announces liquidation, the end of Twinkies
Hostess will seek to liquidate if striking workers don’t return to their jobs
Hostess imposes wage-cutting contract on workers to avoid going under
