Hostess Brands Go on the Auction Block
January 7, 2013 by Douglas A. McIntyre
According to The Wall Street Journal:
Flowers Foods Inc. and Grupo Bimbo SAB are in discussions to acquire pieces of Hostess Brands Inc.’s bread business, as the maker of Wonder Bread and Twinkies sells off assets and liquidates, said people familiar with the talks.
Hostess could disclose Flowers, Grupo Bimbo or others as opening bidders in a looming bankruptcy-court auction for the assets as soon as this week, the people said. Hostess, whose bread brands include Wonder Bread, Nature’s Pride, Home Pride, Merita and Butternut, is still determining how to split up assets and package them for buyers, one of the people said.
Hostess bread brands include Wonder Bread, and could fetch more than $350 million, according to one person.
Hostess’s bread brands could fetch more than $350 million, the person said. The bids are still being negotiated, so their final values and structures aren’t yet determined, the person said.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.