Hostess announces stalking-horse bidders for bread brands
KANSAS CITY, Mo. — Hostess Brands has chosen a stalking-horse bidder for its bread business, the bankrupt baking company said.
Hostess, which declared bankruptcy in November 2012 following a long standoff with one of its labor unions, said it had chosen Flowers Foods as the stalking-horse bidder; the company plans to solicit bids from other companies as well.
The proposed sale of nearly $360 million includes the Butternut, Home Pride, Merita, Nature’s Pride and Wonder brands, while remaining bread brands and the company’s snack business would be sold separately. The company also selected Flowers as a stalking-horse bidder for the Beefsteak bread business, for $30 million.
"We are pleased with the Flowers offers and look forward to a robust auction process that will allow these iconic brands to continue and to maximize value for all the company’s stakeholders," Hostess chairman and CEO Gregory Rayburn said. "We also continue to negotiate with parties interested in purchasing our snack cake business and remaining bread brands, and expect to select additional stalking-horse bidders as soon as reasonably practicable."
Hostess has requested authorization to proceed with the auction from the U.S. Bankruptcy Court for the Southern District of New York, with the Flowers proposals as the stalking-horse bids, as long as it receives additional qualified bids.
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Just Born introduces chocolate-covered cherry Peeps for Valentine’s Day
BETHLEHEM, Pa. — The maker of Peeps marshmallow candies is introducing a new flavor for Valentine’s Day.
Just Born said Monday that it would introduce Peeps Cherry-Flavored Marshmallow Dripped & Drizzled in Chocolate, in three-count packages with deep-red accents.
"Our chocolate-dipped peeps have been a phenomenal success, and the new Peeps Cherry-Flavored Marshmallow Dipped & Drizzled in Chocolate will definitely excite our fans," Peeps senior brand manager Mark Hoffman said.
Valentine's Day is a magnificent chance for families to state their love to their brood. Many families go all out on Valentine's Day and they pay money for their families luxurious gifts but Valentine's Day does not have to be a luxurious holiday.
Nassau Candy introduces organic line
NEW YORK — A company that manufactures, distributes and imports candy has introduced a new organic product line.
Nassau Candy announced Monday the introduction of GoNaturally Organic Hard Candies, manufactured by Hillside Candy and free of artificial sweeteners, preservatives, gluten, cholesterol, trans fats, artificial flavors and colors.
Certified organic by the Department of Agriculture, the candies come in flavors such as honey, cherry, apple, pomegranate, iced mint mango, honey-lemon, blood orange and ginger.
"Commitment to healthy snacking goes beyond just leaving out certain ingredients," Nassau Candy VP confectionary sales Randy Goldbaum said. "More than ever, customers are paying attention to what’s in the food they eat. The GoNaturally line doesn’t just leave out the preservatives and artificial sweeteners like corn syrup — it also uses brown rice syrup with all its nutrients to give a naturally sweet and delicious flavor customers will really enjoy."
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