Hostess sale of Wonder bread nears completion
NEW YORK- Wonder bread is one step closer to getting a new owner.
A person familiar with the situation who requested anonymity because the auction process is private says there will be no competing offers Thursday to a bid by Flowers Foods to buy several bread brands from Hostess.
The $360 million bid by Flowers also includes Nature's Pride, Butternut, Home Pride and Merita breads. An auction will still be held for a separate $30 million bid by Flowers for Beefsteak. Any sales require approval by a bankruptcy court.
Flowers Foods, based in Thomasville, Ga., makes Tastykakes and bread brands including Nature's Own and Cobblestone Mill. Hostess is also holding separate auctions for its snack cakes, which include Twinkies.
Hostess said late last year it would go out of business.