Hostess to sell Wonder Bread, other brands for $390 million

http://www.latimes.com/business/money/la-fi-mo-hostess-wonder-bread-flowers-foods-20130112,0,2615504.story

Hostess Brands Inc. agreed to sell many of its bread brands – including Wonder and Nature’s Pride – to rival bakery business Flowers Foods as the liquidating company prepares to shut itself down.

Flowers, which owns the Tastykake and Nature’s Own brands, will pay $390 million total for a chunk of Hostess’ assets.

Flowers, of Thomasville, Ga., will spend $360 million for the Wonder, Nature’s Pride, Butternut, Home Pride and Merita labels as well as 20 Hostess bakeries and 38 depots.

Hostess, based in Irving, Texas, will sell Flowers its Beefsteak bread brand separately in a $30-million arrangement.