Flowers Receives Approval To Acquire Hostess Bread Brands, Bakeries
Flowers Foods Inc. confirms that it has received regulatory approval pursuant to the Hart-Scott-Rodino Act to acquire the Wonder, Nature’s Pride, Merita, Home Pride and Butternut bread brands; 20 bakeries; and 36 depots from Old HB Inc., formerly known as Hostess Brands. Thomasville, Ga.-based Flowers expects to complete the transaction in the coming weeks.
In February, the company announced its agreement to purchase the assets from Old HB Inc. for $360 million was declared the best and highest bid for such assets. In March, the court overseeing the Old HB Inc. bankruptcy proceeding approved the sale.
Flowers Foods is one of the largest producers of packaged bakery foods for retail and foodservice customers in the U.S. with 2012 sales of $3.05 billion. Flowers operates 44 bakeries that produce a range of bakery products. Among the company’s top brands are Nature’s Own and Tastykake.