facebook
twitter
search
search

Wonder Bread sale nearly complete

Posted By GABRIELLE LEVY, UPI.com   |   Feb. 27, 2013 at 3:23 PM
1 of 2
| License Photo

It looks like Wonder Bread has found a new home now that Hostess has gone bankrupt and is auctioning off its famous brands in pieces.

Flowers Foods Inc., a Thomasville, Georgia-based packaged bakery foods company, has reportedly won the bidding for the majority of Hostess Brands' bread-making business, including Wonder, Butternut, Home Pride, Merita and Nature's Pride, including 20 plants, 38 depots and other assets, Bloomberg News reported.

Flowers will reportedly pay $360 million for the assets. No other offers were submitted.

One other Hostess bread brand, Beefsteaks, will be auctioned Thursday, as it received a competing offer from Grupo Bimbo against Flowers' $30 million bid.

Hostess failed to come to an agreement with striking employees while in its second bankruptcy last year, and will continue liquidating assets at auction on March 13 and March 15. The first bankruptcy for the Irving, Texas-based company was in 2009.

Two private equity firms, C. Dean Metropoulos & Company and Apollo Global Management have reportedly agreed to pay $410 million for Hostess--including the much beloved Twinkie.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Top Stories
Why the fake braces trend may be dangerous for users
Jared Leto 'stopped eating' for his 'Dallas Buyer's Club' role
Kelly LeBrock arrested for DUI
Gisele Bundchen, Tom Brady drop $14M on Manhattan home
Brandi Brandt faces drug charges in Australia