Flowers Foods Puts Up $390M For Hostess Bread Biz

Law360, San Diego (January 11, 2013, 10:24 PM EST) -- Bankrupt Hostess Brands Inc. said Friday that Flowers Foods Inc. had offered to purchase most of the Irving, Texas-based company’s bread business, including its Wonder and Beefsteak brands, for $390 million.

Flowers Foods proposed picking up Hostess’ Wonder, Nature’s Pride, Merita, Home Pride and Butternut bread brands as well as 20 bakeries and 38 depots in a $360 million deal, and it sought to acquire the Beefsteak rye brand as part of a separate $30 million contract, according to Hostess.

Hostess said it had asked a...
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