Posted at: 02/28/2013 4:20 PM
By: The Associated Press
Hostess has found buyers for many of its brands, including Wonder Bread.
The company, which is in bankruptcy protection, picked Flowers Foods as the buyer for the majority of its breads, including Wonder, Butternut, Home Pride, Merita and Nature's Pride. The company said no qualifying competing bids were submitted.
Flowers Foods makes Tastykakes and Nature's Own bread.
Meanwhile, Hostess chose Mexico's Grupo Bimbo, which makes Entenmann's cakes, as the buyer for its Beefsteak bread brand. Beefsteak is a regional rye bread available in some states.
Hostess will ask a bankruptcy court to approve the sales at a hearing March 19. The company has also picked opening bidders for its snack cakes, including Twinkies. Auctions for those sales are scheduled to take place in mid-March.
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