Hostess Sells Bread Brands; Snack Cake Sale Expected Soon
SOUTHFIELD (WWJ/AP) - Hostess says it is selling most of its bread business, including the Wonder and Nature's Pride brands, to Flowers Foods Inc. for $390 million.
The sale also includes 20 bakeries and 38 depots. Other brands included in the sale are Butternut, Home Pride, Merita and Beefsteak bread.
Hostess, which is based in Irving, Texas, announced in November that it was shutting down its business and selling its bread, snacks and cakes brands along with its 33 bakeries and other operations.
The company's demise came after years of management turmoil and turnover.
Flowers Foods is based in Thomasville, Ga.
As far as the future of those beloved snack cakes, like the famous Twinkies, Cup Cakes and Ding Dongs, Hostess is expected to make an announcement in the coming weeks about the sale of those brands.
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