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Hostess Brands selects McKee Foods as winning bidder for Drake’s snack cake brand

BY Rebecca Haughey

KANSAS CITY, Mo. — Hostess Brands on Thursday announced that the stalking horse bid submitted by McKee Foods for the Drake’s snack cake brand will be presented for approval to the U.S. Bankruptcy Court, as no other qualified bids were received for those assets.

McKee has agreed to pay $27.5 million for the Drake’s brand and certain equipment. Drake’s products include Ring Dings, Yodels, Devil Dogs, Yankee Doodles, Sunny Doodles and Drake’s Coffee Cake.

The company will ask the U.S. Bankruptcy Court for the Southern District of New York to approve the transaction at a hearing on April 9.

Separately, Hostess Brands proceeded with an auction for its Sweetheart, Eddy’s, Standish Farms and Grandma Emilie’s bread brands beginning today. United States Bakery, as a stalking horse bidder, has agreed to pay $30 million for the brands, four bakeries and 14 depots, as well as certain equipment.

On March 19, Hostess Brands will seek court approval of several other transactions — including the sale of the majority of the company’s bread business to Flowers Food for $360 million, and the sale of its snack cake business to affiliates of Apollo Global Management and Metropoulos & Co.

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Folgers offers new instant concentrated coffees

BY Jason Owen

ORRVILLE, Ohio — Folgers coffee, part of the J.M. Smucker Company, has introduced a new line of concentrated coffees that do not require brewing, the company announced today.

Folgers Fresh Breaks Roasted Concentrated Coffee is made with ultra-fine ground coffee in a single-serving packet that prepares an 8 oz. cup. The new Fresh Breaks coffees come in three varieties: mild-roasted Breakfast Blend; Mountain Grown, 100% Colombian medium-dark roast; and Black Silk, dark-roast.

"Folgers understands how important it is for coffee lovers to be able to enjoy a delicious cup of hot coffee, no matter where their day takes them," said Maribeth Badertscher, vice president of Corporate Communications, The J.M. Smucker Company. "Folgers Fresh Breaks Roasted Concentrated Coffee offers an even more convenient way for consumers to enjoy a fresh cup of coffee at a moment’s notice without having to sacrifice authentic taste."

Available nationwide, Folgers Fresh Breaks coffees come in eight count packages with a suggested retail price of $4.79-$5.19.


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Tabasco jelly beans fire up candy aisle

BY Jason Owen

FAIRFIELD, Calif. — Jelly Belly Candy Company has introduced new Jelly Belly Tabasco jelly bean bottles to candy shelves, the company announced today.

Jelly Belly Tabasco jelly beans mimic the traditional Tabasco brand bottle and are filled with the newest Jelly Belly jelly beans spiced with genuine Tabasco brand seasonings.

The 1.5-oz. bottles are available 24 per caddy, two caddies per case and are shipping now in time for the spring and summer seasons.


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