Breaking News
FONT-SIZE Plus   Neg
Share SHARE

WSJ: Flowers Foods, Grupo Bimbo In Talks To Buy Bread Business Of Hostess Brands

RELATED NEWS
Trade FLO now with 

Flowers Foods Inc. (FLO: Quote) and Grupo Bimbo SAB are in talks to acquire bread business of Hostess Brands Inc., the Wall street Journal reported citing the people familiar with the matter.

Hostess could disclose Flowers, Grupo Bimbo or others as opening bidders in a looming bankruptcy-court auction for the assets as soon as next week, the journal reported.

Hostess, whose bread brands include Wonder Bread, Nature's Pride, is still determining how to split up assets and package them for buyers. Hostess's bread brands could fetch more than $350 million. The bids are still being negotiated, so their final values and structures aren't yet determined, the journal quoted the person as saying.

Hostess's cake business, including the iconic Twinkies brand, is expected to be sold later this year, and negotiations with possible buyers remain in early stages, the journal said.

Hostess in November announced that it was shutting down its business and selling off its 30 or so brands and 36 plants in a bankruptcy liquidation.

Wal-Mart Stores Inc. (WMT: Quote) and Kroger Co. (KR: Quote) are also interested in Hostess's bread brands but aren't expected to be opening bidders for them. Other smaller companies are also in discussions with Hostess, the paper reported citing the person familiar with the talks.

Register
To receive FREE breaking news email alerts for Flowers Foods Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
German unemployment reached the lowest in more than two decades in November, boosting confidence among businesses and households. The seasonally adjusted jobless rate for November was 6.6 percent, unchanged from October's figure that was downwardly revised, data from the Federal Labor Agency showed Thursday. Eurozone money supply supply growth remained steady in October, while lending to the private sector continued to fall, despite the stimulus efforts from the European Central Bank. The annual growth of broad money, or M3, was 2.5 percent in October, unchanged from September, the ECB said on Thursday.... Australia's international cricketer Phillip Hughes, who sustained critical injury after being hit on the head by a ball during a domestic match Tuesday, has died. The 25 year-old promising player had been fighting for his life for two days at St Vincent's Hospital in Sydney, in induced coma. Australian cricket team's doctor Peter Brukner said at a news conference Thursday that Hughes died as a
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.