Hostess sale of Wonder bread nears finish Valdosta Daily Times
Wonder bread could start appearing in education lunchboxes again soon.
A person familiar with your position says a bid by Flowers Foods to buy Wonder and several other bread brands from bankrupt Hostess was met with no qualifying competing offers. the litigant requested anonymity because the auction process is private.
Hostess hasn been coming to a of cheap jerseys its cakes and breads since late November, When the company announced it was going bankrupt and closed its plants following years of financial struggles. The shuttering included the decline of about 18,000 careers.
The $360 million bid by Flowers also may include Nature Pride, Butternut, Home Pride and Merita bakery, through 20 bakeries and 38 depots. An auction it's still 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 Grupo Bimbo, which enables Thomas English muffins and Entenmann cakes.
Any sales would be subject to approval by an individual bankruptcy court on March 19.
Hostess in addition has picked opening bidders, known as horse, for their snack cakes. A joint offer from two stock firms Metropoulos Co. And Apollo Global settlement LLC was picked as the wholesale jerseys from China lead bid for Twinkies cheap NFL jerseys from China nike and other snack cakes. Hostess CEO Greg Rayburn claims he expects that auction to be and wooly.
McKee nutrients, helping to make Little Debbie snack cakes, Was picked as the lead bidder for Drake cakes, that include Devil Dogs, cheap chinese jerseys interesting Bones and Yodels. The deadline to submit fighting offers for the snack cakes isn until midMarch.
a floral arrangement Foods, serving the area around Thomasville, Ga, Makes Tastykakes and breads adding Nature Own. representatives for Flowers Food and Grupo Bimbo did not immediately return calls for comment.
Taken up, Hostess has said its six bread brands generated less than $1 billion in sales last year, With Wonder bread shipping for about half of that. plants Foods, Which makes about $3 billion in annual sales, wholesale usa jerseys Said it expects the deals to increase its earning this year. group plans to finance the deal through a mix of cash and debt.
In a personal bankruptcy court filing Monday, Hostess second largest union objected to the sale of the breads, Noting that Flowers Foods not invested in preserve a single job.
the main Bakery, Confectionery, Tobacco Workers and Grain Millers cosmopolitan Union said that while the bid may NFL nike jerseys be optimal for the company lenders, first-class assurances that the rights of workers would be protected.ç›¸å…³çš„ä¸»é¢˜æ–‡ç« :