Grupo Bimbo, S.A.B. de C.V., Mexico City, says its Bimbo Bakeries USA Inc., Horsham, Pa., has completed its $31.9-million purchase of the Beefsteak brand, acquired as part of the Hostess Brands bankruptcy proceedings. Also, the company announces that CEO Daniel Servitje Montull will replace retiring Don Roberto Servitje Sendra as board chairman.
Grupo Bimbo SAB, Mexico City, and Flowers Foods, Thomasville, Ga., are emerging as the two of the bidders for Wonder Bread and other Hostess bread brands as Irving, Texas-based Hostess Brands Inc. tries to sell off its assets under bankruptcy-court oversight.