Skip to comments.Little Debbie Maker to Buy Drake's Brand From Hostess For $27.5 Million
Posted on 03/14/2013 5:50:55 PM PDT by Morgana
Hostess Brands Inc. on Thursday named McKee Foods Corp. the winning bidder for its Drake's brand of coffee cakes and other treats, as no other bidder topped McKee's $27.5 million offer.
Hostess said a planned Friday auction for Drake's, which makes Ring Dings, Yodels, Devil Dogs and its namesake Drake's coffee cake, will be canceled. Hostess will ask a bankruptcy judge to approve the transaction at an April 9 hearing.
McKee, the maker of Little Debbie snack cakes, in January was named the lead bidder for Drake's. The company will get Drake's brands and equipment if the judge approves the sale.
Hostess said it will hold a Friday auction for some of its smaller bread brands after a rival bidder emerged to challenge a subsidiary of United States Bakery Inc. Those brands include Sweetheart, Eddy's, Standish Farms and Grandma Emilie's.
Hostess, the maker of Twinkies and Wonder bread, filed for Chapter 11 in January 2012. The company eventually began selling off its assets, generating interest from both rival bakers and private equity firms.
The company earlier this week canceled an auction for Twinkies and other cake brands after no rival bidder emerged against Apollo Global Management LLC and Metropoulos & Co.'s $410 million offer.
(Excerpt) Read more at foxbusiness.com ...
Little Debbie’s Ding Dongs?
Devil Dogs! heh heh hehhh
too sweet for me!
love coffee cake too!
hear tell my landlord put the make on a couple of little debbies...sittin on a $75k bond...
IIRC, Little Debbies is a non union company too.
Waiting for the NLRB to kill this in 10...9...8...7....
And not the unionized workforce.
Bet Debbie is not a union shop.
In other news the unions expect this threat to be just another step Hostess executives are taking to ensure their million dollar golden parachutes at the expense of the working man.
Nothing to do with the story but I am hear to tell you the “Little Debbie” ‘Star’ cookie thingie are so good nothing else matters in the cookie world.
Carmel, chocolate, crunch, caramel, rice thingies..........
Apollo Global has tentatively won ding dongs, twinkies, ho hos, etc. (Depends on the bankruptcy judge)
I posted it yesterday or the day before at the following link:
Little Debbie is a privately owned business that has no union.
The unions have definitely lost this round.
Little Debbie makes some great stuff.
Nutty Buddy’s placed in the freezer are a fave of mine.
So who won “Twinkies”?
I like Little Debbies but only so much. I eat some in the evening because they are one of the few things which do not bother my stomach at night.
I have noticed they have raised their prices twice in the last year or so.
Oh man!!! You reminded me I lost out on the Valentine’s Day cherry-filled “Moon Pie” approach!!
DANG! This “work” think keeps getting in the way of important “life” stuff!!!
...just wish someone would bring back the Beefsteak Rye bread
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