Wal-Mart, Kroger among Hostess bidders
Artie wrote:I was at Strack & Van Til yesterday and I saw a prominent display in the very first aisle you access for "Mrs.Freshleys Golden Creme Filled Cake". Normally I wouldn't give them a second look but because of Twinkie fever they caught my eye. I was able to refrain from buying them and thus saved myself from another episode of... "Why the hell did you buy that"?![]()
NFriday wrote:Hi- I just researched this further, and tastykake wants to purchase some of the breads, including Wonder bread. Apparently they are not interested in purchasing any of the snack cakes. THere are other companies that are interested in the snack cakes though.
Pie Lady wrote:I wonder if the original was on par with a 5.
http://www.nytimes.com/2013/02/10/magazine/my-twinkie-barricade.html?_r=0I smelled like nondairy cream filling, my fingers slick with oils. I felt spongy. I had eaten an entire box of Twinkies after school, a month’s ration of treats, and I was in a world of consequences. I stood in the kitchen stunned by my own lapse in control and surrounded by the evidence of my savagery. I watched the clock. My father was on the way home to a debris field of plastic wrappers and a boy with near crystalline blood sugar. When he arrived, inflated in his quilted parka, he saw the story quickly, and sighed.
Reuters wrote: Flowers Foods Inc is set to buy Wonder Bread and some other brands owned by Hostess Brands Inc for $360 million, a source familiar with the matter said on Wednesday, giving the No. 2 U.S. baking company a bigger slice of the fast-consolidating bread business.
Pending approval from a U.S. bankruptcy court judge, Wonder Bread, along with Butternut, Home Pride, Merita and Nature's Pride, will go to Flowers after no other bidder stepped up to make a competing offer, the source said.
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There will be an auction for the Beefsteak brand, for which Flowers bid $30 million, since Hostess received a higher bid from Mexico's Grupo Bimbo
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Hostess expects to run two more auctions next month. One would be for the Hostess snack cake brands, including Twinkies and Dolly Madison, for which private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co set the bidding at $410 million.
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The other auction would be for its Drake's cake business and additional bread brands. So far, McKee Foods, maker of Little Debbie snack cakes, offered $27.5 million for Drake's, which includes Ring Dings, Yodels and Devil Dogs.
United States Bakery Inc, also known as Franz Family Bakery, agreed to pay $28.85 million for the Sweetheart, Eddy's, Standish Farms and Grandma Emilie's bread brands.
JoelF wrote:According to The Braiser (via HuffPo), Hostess only received a single $360M bid, from Flowers Food of Georgia. Pending approval, they should be able to start cranking out delicious greasy little cakes shortly.
BR wrote:JoelF wrote:According to The Braiser (via HuffPo), Hostess only received a single $360M bid, from Flowers Food of Georgia. Pending approval, they should be able to start cranking out delicious greasy little cakes shortly.
Not exactly - that's for the majority of the bread brands, with the auction about to be underway for the Beefsteak brand. The bid deadlines/auction for snack cake products is next month (March 11 & 12 to be exact, with possible auctions on March 13 and 15).
edited to note that Bimbo was the winning bidder for the Beefsteak brand.
jlawrence01 wrote:BR wrote:JoelF wrote:According to The Braiser (via HuffPo), Hostess only received a single $360M bid, from Flowers Food of Georgia. Pending approval, they should be able to start cranking out delicious greasy little cakes shortly.
Not exactly - that's for the majority of the bread brands, with the auction about to be underway for the Beefsteak brand. The bid deadlines/auction for snack cake products is next month (March 11 & 12 to be exact, with possible auctions on March 13 and 15).
edited to note that Bimbo was the winning bidder for the Beefsteak brand.
Not exactly. Right now, Grupo Bimbo has the high bid. However, Flowers has the "stalking horse" and has the opportunity to make a final bid as does anyone wlse who wants to make a higher bid.
In two weeks, we'll know for sure.
Twinkies return expected by summer, new Hostess owner says
Based on the outpouring of nostalgia sparked by its demise, Hostess is expecting a blockbuster return next month for Twinkies and other sugary treats, such as CupCakes and Donettes. The company says the cakes will taste the same but that the boxes will now bear the tag line "The Sweetest Comeback In The History Of Ever."
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Drake's cakes, meanwhile, were snapped up by longtime Hostess rival McKee Foods, which makes Little Debbie snacks. McKee said in an email Monday that Drake's cakes should be back by "late summer/early fall." The company says it will start with a selection of Drake's products and see whether to bring back more products after that.
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Notably, McKee Foods has gone head-to-head with Hostess on a variety of products. Its "Cloud Cakes" for example, bear a striking resemblance to Twinkies. And now it owns Drake's Devil Dogs and Yodels, which look a lot like its Little Debbie Devil Cremes and Swiss Rolls, respectively. But McKee says it isn't necessarily phasing out products that seem similar to each other.
"Similar is just that — similar, not the same," McKee spokesman Mike Gloekler wrote in an email.
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A spokesman for Flowers Foods, Keith Hancock, said the company is still waiting for final approval from the Department of Justice for its purchase of Wonder and other breads. Flowers already makes a variety of bread brands, including Nature's Own and Cobblestone Mill, as well as snack cakes such as Tastykake and Mrs. Freshley's.
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Cathy2 wrote:While some wait for the Twinkie, I wait for a Ho-Ho.
Regards,
http://www.chicagotribune.com/business/breaking/chi-twinkies-20130715,0,6952668.storyTwinkies, Hostess snacks back in stores today
NFriday wrote:Hi- Does anybody know if Wonder bread is coming back? There is somebody over on Jill Cataldo's couponing site, that misses their rye bread, and has not found a suitable substitute. She does not care for Rosen's. Thanks, Nancy