Key bidders emerge for Hostess bread brands
Hostess Brands could reveal this week that the makers of Thomas’ English muffins and Tastykake snacks might buy the Hostess bread brands.
The Associated Press
NEW YORK — The makers of Thomas’ English muffins and Tastykake snacks are emerging as two of the bidders for Wonder Bread and other Hostess bread brands as the company tries to sell off its assets under bankruptcy-court oversight, a newspaper reported Saturday.
The Wall Street Journal said Hostess Brands could reveal this week that Flowers Foods and Grupo Bimbo are in discussions to acquire the bread brands, which also include Nature’s Pride. The report said the brands could command $350 million.
Grupo Bimbo’s brands include Arnold breads, Thomas’ English muffins and Entenmann’s cakes. Flowers Foods’ brands include Nature’s Own breads and Tastykake snacks.
Hostess sells Twinkies, Ding Dongs and Ho Hos, along with Dolly Madison cakes. Hostess also sells Devil Dogs, Funny Bones, and Yodels under the Drake’s brand.
Hostess, based in Irving, Texas, announced in November that it was shutting down its business and selling its bread, snacks and cakes brands along with its 33 bakeries and other operations.
Hostess declined to comment, as did Grupo Bimbo’s U.S. division, Bimbo Bakeries USA. Bimbo’s parent company is headquartered in Mexico. A message left with Flowers Foods, based in Thomasville, Ga., was not returned.
Hostess said in bankruptcy-court proceedings in December that it was narrowing down the bids it had received and expects to sell off its snack cakes and bread brands to different buyers.