Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

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

RELATED NEWS
Trade FLO now with 
1/6/2013 4:14 AM ET

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
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
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.