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February 27, 2013

Source: Flowers Foods has no competition for Hostess brands

NEW YORK — Wonder bread could start appearing in school lunchboxes again soon.

A person familiar with the situation says a bid by Flowers Foods to buy Wonder and several other bread brands from bankrupt Hostess was met with no competing offers. The individual requested anonymity because the auction process is private.

Hostess hasn't been making any of its cakes and breads since late November, when the company announced it was going out of business and shuttered its plants after years of financial struggles.

The $360 million bid by Flowers also includes Nature's Pride, Butternut, Home Pride and Merita breads. An auction will still be held Thursday for a separate $30 million bid by Flowers for Beefsteak. The source said a competing offer for that brand was submitted by Mexico's Grupo Bimbo, which makes Thomas' English muffins and Entenmann's cakes.

Any sales would be subject to approval by a bankruptcy court on March 19.

See Thursday's edition for more details.

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