Hostess Gets Approval To Sell Drake's, Bread Brands

Law360, New York (April 9, 2013, 2:50 PM EDT) -- A New York bankruptcy judge signed off Tuesday on the last major asset sales for Hostess Brands Inc., allowing McKee Foods Corp. to purchase its Drake’s brand for $27.5 million and an Oregon-based company to buy its last few bread brands for $30.9 million.

U.S. Bankruptcy Judge Robert D. Drain gave the go-ahead at a court hearing. The latest approval brings the amount of Hostess’ asset sales to nearly $860 million total to date.

"The sale of Drake's and the bread brands are the culmination of...
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