US: Wal-Mart, Kroger "bidders" for Hostess assets
Wal-Mart and Kroger are said to be among the bidders for the assets
Hostess last month received court permission to wind down its business and sell off its assets after a BCTGM national strike that the company said had "crippled" the company.
According to Bloomberg, Wal-Mart and Kroger are among the bidders for the group's assets. However, a spokesperson for Hostess yesterday (13 December) declined to reveal the identity of the interested parties.
He told just-food the company has received interest from more than 160 bidders and confirmed the assets have attracted interest from regional, national and international suitors.
Of the international bidders, the spokesperson confirmed the interest from those companies was in licensing the Hostess brands overseas.
"The deadline for initial bids was Monday of this week. I can't provide any specifics about the bidders, or a timeline," he told just-food.
Wal-Mart declined to comment on the reports and Kroger could not be reached for comment.
According to Bloomberg, private equity firm C. Dean Metropoulos & Co. had planned to submit a bid.
Other bidders are understood to have included Flowers Foods, which last month extended a $500m loan facility as news emerged linking it as a possible buyer.
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...
Wal-Mart has launched legal action against the UFCW union in the US and its protests at the retailer's stores in California....
- Rabobank's early view on Brexit impact on food
- Brexit sparks uncertainty for UK food - comment
- New food waste standard will help monitor progress
- How to win in Australian gluten-free cereal
- How local model protects Nestle - interview
- Brexit – Live reaction from food industry
- Brexit - UK food trade body issues warning
- Brexit - Europe's food makers call result "a blow"
- Brexit - Irish food export agency sounds warning
- German dairy group DMK names Ingo Mueller new CEO
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Singapore Food and Drink Report Q3 2016
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights