Flowers Foods Inc. (FLO: Quote) Monday confirmed that it received regulatory approval pursuant to the Hart-Scott-Rodino Act to acquire certain brands and assets from Hostess Brands.
The company received the approval to purchase the Wonder, Nature's Pride, Merita, Home Pride, and Butternut bread brands; 20 bakeries; and 36 depots from Old HB Inc., formerly known as Hostess Brands. Flowers expects to complete the transaction in the coming weeks.
In February 2013, the company announced its agreement to purchase the assets from Old HB for $360 million was declared the best and highest bid for such assets. In March 2013, the court overseeing the Old HB bankruptcy proceeding approved the sale.
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by RTT Staff Writer
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