NEW YORK ( TheStreet) -- A newspaper is reporting that Flowers Foods (FLO) and Bimbo are emerging as bidders for the bread brands of Hostess, which is in the midst of a bankruptcy-court liquidation of its assets.
The Wall Street Journal reported Saturday that Hostess Brands Inc. could reveal as early as next week that Flowers and Bimbo are in discussions to acquire the bread brands, which include Wonder Bread and Nature's Pride.
The report says the brands could command $350 million.
Hostess, based in Irving, Texas, announced in November that it was shutting down its business and selling its brands, which also include Twinkies, along with its 33 bakeries and other operations.Grupo Bimbo SAB's brands include Arnold breads, Thomas' English muffins, and Entenmann's cakes. Flowers Foods Inc.'s brands include Nature's Own breads and Tastykake snacks.
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