US: Wal-Mart, Kroger "bidders" for Hostess assets

By Michelle Russell | 14 December 2012

Wal-Mart and Kroger are said to be among the bidders for the assets

Wal-Mart and Kroger are said to be among the bidders for the assets

US retailers Wal-Mart Stores and Kroger are understood to be one of a number of bidders for the assets of US baker and Twinkies owner Hostess Brands.

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.

Sectors: Bakery, Financials, Mergers & acquisitions

Companies: Kroger, Hostess Brands, Wal-Mart Stores, Flowers Foods

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US: Wal-Mart, Kroger "bidders" for Hostess assets

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