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.
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