US: Hostess to name stalking horse bidder for Drakes - report
Hostess put its business on the block in November
Hostess Brands, the producer of well-known brands such as Twinkies, is preparing to file a "stalking horse" agreement for its Drakes bakery brand next week, it is understood.
Hostess put its business on the block in November, when it wound down operations and went into liquidation. The company is currently in the process of selling off its brands and assets.
Last week, Mexican baker Groupo Bimbo was believed to be the front-runner in the sale of Hostess Brands snack cake interests.
According to Reuters, the statement came from a lawyer for the bakery business at a court hearing today (25 January), at which Hostess is seeking permission to sell the majority of its bread brand assets and Beefsteak brand at a 28 February auction. The report did not name the lead bidder.
Last week, the company named Flowers Foods as the stalking horse bidder for various bread assets, including Wonder Bread. The company has tabled an offer to buy 20 bread plants, 38 depots and other assets for $355m.
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
US breakfast cereal group Post Holdings kicks off a relatively quieter week of results with its half-year numbers on Monday. On Tuesday, meat giants Marfig and JBS will report on how it fared in the f...
UK private-equity firm Actis has acquired a 30% stake in Egypt-based snack food group Edita Food Industries....
The new Hostess Brands has announced plans to re-open plants in Indiana and Illinois as the US baker looks to rebuild its production network....
- Unilever must "speed" response to consumer trends
- Premier Foods CEO expects UK supermarket rebound
- Briefing: The risks and rewards of e-tail in China
- Why US diet guidelines should consider environment
- What the analysts say: Unilever's mixed 2014
- Tootsie Roll CEO Melvin Gordon dies at 95
- Unilever revenues disappoint as food sales fall
- Lifeway Foods CEO denies sale talks
- McCain to close Grobbendonk plant in Belgium
- Jobs to go at FrieslandCampina cheese plant
- The Sugar Backlash and its Effects on Global Consumer Markets
- 10 Key Trends in Food, Health and Nutrition 2015
- The Future of Retailing in the UK to 2017
- Global Consumer Trend Framework: Understanding Attitudes and Behaviors that Influence Global Consumption Habits
- Meat Substitutes Market - Global Trends, Forecasts up to 2019