Bimbo wins Beefsteak bread in Hostess Brands auction

Posted in the Minneapolis Forum

non-starter

Saint Paul, MN

#1 Mar 4, 2013
Bimbo wins Beefsteak bread in Hostess Brands auction

Thu Feb 28, 2013 4:43pm EST

Feb 28 (Reuters)- Mexico's Grupo Bimbo won the Beefsteak bread brand in an auction on Thursday from bankrupt company Hostess Brands Inc, after outbidding rival Flowers Foods Inc with an offer for $31.9 million, Hostess said.

The bid, by the world's largest bread maker, is still subject to approval by a U.S. bankruptcy court.

Hostess also confirmed on Thursday that Flowers, maker of Tastykake snacks, is set to buy other Hostess bread brands, including Wonder, Butternut and Home Pride for $360 million.

Hostess received permission late last year from a U.S. bankruptcy court to wind down its business and liquidate assets after 82 years, following a bakery union strike that paralyzed its operations.

Bimbo's U.S. brands include Entenmann's cakes, Arnold bread and Thomas' English Muffins. The Mexican company was also seen as a candidate to bid for Hostess's snack cake brands including Twinkies, sources told Reuters previously. That asset received an initial bid of $410 million from Apollo Global Management LLC and C. Dean Metropoulos & Co and will go to auction next month.
liBeRALs

Saint Paul, MN

#2 Mar 4, 2013
Unless you have a fetish for baked goods, I fail to see what this post has to do with this forum.
non-starter

Saint Paul, MN

#3 Mar 4, 2013
liBeRALs wrote:
Unless you have a fetish for baked goods, I fail to see what this post has to do with this forum.
Once again, they don't sell Home Pride and Wonder bread in Minnesota?
non-starter

Saint Paul, MN

#4 Mar 4, 2013
liBeRALs wrote:
Unless you have a fetish for baked goods, I fail to see what this post has to do with this forum.
Oh Topix, Minneapolis page content editor, what are the approved subjects to post on again? I forgot you had appointed yourself PIC(poster in charge) of content.
liBeRALs

Saint Paul, MN

#5 Mar 4, 2013
non-starter wrote:
<quoted text>Once again, they don't sell Home Pride and Wonder bread in Minnesota?
Not any more.

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