Hostess sells Wonder Bread and five other brands to Tastykakes baker for $390m with new Twinkies owner expected in a matter of weeks
Flower Foods has offered $390 million for Wonder Bread, Nature's Pride, Butternut, Home Pride, Merita and Beef Steak
It has been selected as the 'stalking horse' bidder, which means higher competing bids can still be made
Hostess expected to announce buyers for its famed dessert cakes soon
The company announced in November that it was shutting down
By Daily Mail Reporter
PUBLISHED: 15:45 EST, 12 January 2013 | UPDATED: 16:54 EST, 12 January 2013
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.http://www.dailymail.co.uk/news/article-2261420/Hostess-sells-Wonder-bread-brands-Tastykakes-baker-390m-new-Twinkies-owner-expected-matter-weeks.html