URGENT: Flowers purchases most Hostess bread brands

Beefsteak brand still up for grabs. Other products still to be auctioned. Photo: Vintage product sign.

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. 

Read more of Terry’s news and reviews at Curtain Up! in the Entertain Us neighborhood of the Washington Times Communities. For Terry’s investing and political insights, visit his Communities columns, The Prudent Man and Morning Market Maven, in Business.

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Terry Ponick

Now writing on investing, politics, music, movies and theater for the Washington Times Communities, Terry was formerly the longtime music and culture critic for the Washington Times print edition (1994-2009) before moving online with Communities in 2010.  

 

 

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