Flowers Foods Inc., Thomasville, Ga., completes the acquisition of Hostess Brands’ bread assets, including 20 bakeries; the Wonder, Merita, Home Pride, Butternut and Nature’s Pride brands; and 36 depots from Old HB Inc. (formerly Hostess Brands). The adjusted purchase price was $355 million.
Hostess Brands Inc. has obtained U.S. Bankruptcy Court approval to sell its Drake’s snack cake brand as well as four of its northwest regional bread brands in two separate transactions totaling approximately $58.4 million in proceeds.
Hostess Brands Inc. says the stalking-horse bid submitted by McKee Foods Corp. for the Drake's snack cake brand will be the bid presented for approval to the U.S. Bankruptcy Court; no other qualified bids were received for those assets. It also says the bid submitted by affiliates of Apollo Global Management and Metropoulos & Co. for the majority of the company’s snack cake business, including Hostess and Dolly Madison brands, will be the one presented for approval to the U.S. Bankruptcy Court; no other qualified bids were received for those assets.
Hostess Brands selects Apollo Global Management and Metropoulos & Co. as the winning bidder for the majority of its snack cake business, including its iconic Twinkies.
Hostess Brands Inc. has selected affiliates of Apollo Global Management, LLC and Metropoulos & Co. as the “stalking horse” bidder for the majority of the assets of its snack cake business, which includes both Hostess and Dolly Madison branded products, including the iconic Twinkies brand.
Thomasville, Ga.-based Flowers Foods Inc. has signed two asset purchase agreements with Hostess Brands Inc., Irving, Texas, for numerous Hostess bread brands, bakeries and depots.