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.
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