Flowers purchases most Hostess bread brands

Flowers purchases most Hostess bread brands

Wire reports indicate that Georgia-based commercial baking giant Flowers Foods (FLO) is buying most Hostess bread brands outright.

WASHINGTON, February 27, 2013 — Wire reports indicate that Georgia-based commercial baking giant Flowers Foods (FLO) is buying most Hostess bread brands outright. Among the purchased brands in Flowers’ $360 million offer is Hostess’ iconic Wonder Bread. While an auction for the brands was to be run tomorrow, no other serious bidder materialized, sources say.

The bid still must be formally approved by the bankruptcy court, but the deal is likely to stand, as there appear to be no other offers.

Purchased brands also include other labels like Butternut, Home Pride, Merita and Nature’s Pride. The Beefsteak brand was not included, however, as Hostess got a higher bid for that brand from Grupo Bimbo of Mexico, which reportedly bid $30 million. That brand will likely go on auction and Flowers may be in the running here as well. 

Follow Terry on Twitter @terryp17

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Terry Ponick
Biographical Note: Dateline Award-winning music and theater critic for The Connection Newspapers and the Reston-Fairfax Times, Terry was the music critic for the Washington Times print edition (1994-2010) and online Communities (2010-2014). Since 2014, he has been the Business and Entertainment Editor for Communities Digital News (CDN). A former stockbroker and a writer and editor with many interests, he served as editor under contract from the White House Office of Science and Technology Policy (OSTP) and continues to write on science and business topics. He is a graduate of Georgetown University (BA, MA) and the University of South Carolina where he was awarded a Ph.D. in English and American Literature and co-founded one of the earliest Writing Labs in the country. Twitter: @terryp17