Hostess expects to split up snack cakes in sale
CHICAGO, IL - DECEMBER 11: Hostess Twinkies are offered for sale at a Jewel-Osco grocery store on December 11, 2012 in Chicago, Illinois. The Jewel-Osco grocery store chain purchased the last shipment of 20,000 boxes of Hostess products and put them on sale in their stores throughout the Chicago area today. Hostess Brands Inc. shut down its baking operations and began liquidating assets last month after failing to negotiate a labor contract with Workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (Photo by Scott Olson/Getty Images)
NEW YORK Twinkies, Wonder Bread and Devil Dogs are likely to return to shelves in coming months, but probably not under the same owners.
Hostess Brands Inc. said in bankruptcy court Friday that it's narrowing down the bids it received for its brands and expects to sell off its snack cakes and bread brands such as Wonder to separate buyers.
An investment banker for the company said a likely suitor has emerged to buy the namesake Hostess brand, which include Twinkies, Ding Dongs and Ho Hos, along with Dolly Madison, which includes Zingers and Coffee Cakes. He said a separate bidder has emerged as a possible buyer for Drake's cakes, which includes Devil Dogs and Yodels.
Hostess, based in Irving, Texas, began shuttering its operations late last month.
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