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Little Debbie Maker to Buy Drake's Brand From Hostess For $27.5 Million
FOX ^ | FOX/Dow Jones Newswires

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 ...


TOPICS: Business/Economy
KEYWORDS: hostess; littledebbie
TWINKIES AT LAST!!
1 posted on 03/14/2013 5:50:55 PM PDT by Morgana
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To: Morgana

Little Debbie’s Ding Dongs?


2 posted on 03/14/2013 5:52:11 PM PDT by OKRA2012
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To: Morgana
Drake's Coffee Cakes
3 posted on 03/14/2013 5:55:54 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Morgana

Devil Dogs! heh heh hehhh

too sweet for me!

love coffee cake too!


4 posted on 03/14/2013 5:58:16 PM PDT by NormsRevenge (Semper Fi)
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To: Morgana

hear tell my landlord put the make on a couple of little debbies...sittin on a $75k bond...


5 posted on 03/14/2013 6:00:02 PM PDT by bigheadfred
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To: Morgana

TWINK! TWINK!!!

6 posted on 03/14/2013 6:00:37 PM PDT by freedumb2003 (Establishment Republicans don't like that totalitarian thing unless it is THEIR totalitarian thing!)
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To: Morgana

IIRC, Little Debbies is a non union company too.

Waiting for the NLRB to kill this in 10...9...8...7....


7 posted on 03/14/2013 6:01:48 PM PDT by llevrok (Keep your arms out. It makes it harder for them to throw a net over you.)
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To: Morgana
The company will get Drake's brands and equipment if the judge approves the sale.

And not the unionized workforce.

8 posted on 03/14/2013 6:01:48 PM PDT by RightGeek (FUBO and the donkey you rode in on)
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To: Morgana

Bet Debbie is not a union shop.


9 posted on 03/14/2013 6:01:59 PM PDT by AU72
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To: Morgana

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.


10 posted on 03/14/2013 6:03:11 PM PDT by PittsburghAfterDark
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To: Morgana

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..........


11 posted on 03/14/2013 6:05:55 PM PDT by svcw (Why is one cell on another planet considered life, and in the womb it is not.)
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To: OKRA2012

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:

http://www.freerepublic.com/focus/f-chat/2996374/posts


12 posted on 03/14/2013 6:06:26 PM PDT by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: PittsburghAfterDark

Little Debbie is a privately owned business that has no union.

The unions have definitely lost this round.


13 posted on 03/14/2013 6:07:36 PM PDT by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: Morgana

Yippee!


14 posted on 03/14/2013 6:10:01 PM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: svcw

Little Debbie makes some great stuff.

Nutty Buddy’s placed in the freezer are a fave of mine.


15 posted on 03/14/2013 6:15:32 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: xzins

So who won “Twinkies”?


16 posted on 03/14/2013 6:18:31 PM PDT by Morgana (Always a bit of truth in dark humor.)
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To: svcw
Ohh Yeah! Those are awesome ☺


17 posted on 03/14/2013 6:19:58 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Morgana

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.


18 posted on 03/14/2013 6:29:04 PM PDT by yarddog (Per Ardua Ad Alta.)
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To: mylife

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!!!


19 posted on 03/14/2013 6:30:31 PM PDT by freedumb2003 (Establishment Republicans don't like that totalitarian thing unless it is THEIR totalitarian thing!)
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To: Morgana

...just wish someone would bring back the Beefsteak Rye bread


20 posted on 03/14/2013 6:31:43 PM PDT by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Morgana

I didn’t know Hostess owned Drake’s. Wasn’t that pretty nearly a monopoly then?


21 posted on 03/14/2013 6:32:39 PM PDT by Hilda
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To: Morgana

Little Debbie is/was an inferior brand to the original drakes cakes. I’m wondering if they (devil dogs, coffee cakes, etc, etc) will have the same taste and quality that it once did under Hostess.


22 posted on 03/14/2013 6:34:27 PM PDT by lowbridge (Joe Biden: "Look, the Taliban per se is not our enemy.")
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To: Morgana

KANSAS CITY, Mo., March 12, 2013 - Hostess Brands Inc. (”Hostess Brands” or “the Company”) announced that the stalking horse bid submitted by affiliates of Apollo Global Management, LLC (NYSE: APO) (collectively with its subsidiaries “Apollo”) and Metropoulos & Co. (”Metropoulos”) for the majority of the Company’s snack cake business, which includes both Hostess® and Dolly Madison® branded products, will be the bid presented for approval to the U.S. Bankruptcy Court as no other qualified bids were received for those assets.


23 posted on 03/14/2013 6:36:54 PM PDT by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: mylife
Given an endless supply of these...

...I would eat them until you could make rock candy out of the sugar crystals in my bloodstream.


24 posted on 03/14/2013 6:37:39 PM PDT by Joe 6-pack (Qui me amat, amat et canem meum.)
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To: OKRA2012

A brand of convenience so you can refer to ‘every swinging little debbie’ at morning formation.


25 posted on 03/14/2013 6:41:13 PM PDT by muawiyah
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To: Morgana

I believe Drakes Cakes played a role in a Seinfeld episode.


26 posted on 03/14/2013 6:43:51 PM PDT by DManA
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To: mylife

Bingo!!!!


27 posted on 03/14/2013 6:47:26 PM PDT by svcw (Why is one cell on another planet considered life, and in the womb it is not.)
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To: mylife

Good idea.


28 posted on 03/14/2013 6:49:30 PM PDT by svcw (Why is one cell on another planet considered life, and in the womb it is not.)
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To: Morgana

McKee Baking is privately owned by 7th Day Adventists. Their plants do not run on Saturday nor is there any work done in the plants.

They will not be big fans of obamacare mandates either.


29 posted on 03/14/2013 6:56:20 PM PDT by OSHA (One despises and wants to destroy the United States, the other is a dead terrorist.)
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To: Joe 6-pack

I have a big box of em at work ;)

I limit myself to two.


30 posted on 03/14/2013 7:07:51 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Morgana

Drake’s........blegh. Oh for a bakery on every corner.....,,


31 posted on 03/14/2013 7:11:46 PM PDT by LifeComesFirst (http://rw-rebirth.blogspot.com/)
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To: Morgana

Little Debbie has their own “Twinkie” type cake called “Cloud Cakes” which are pretty good.


32 posted on 03/14/2013 7:13:29 PM PDT by pnz1
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To: Doogle

just wish someone would bring back the Beefsteak Rye bread

Beefsteak Rye Bread is the BEST. I hope it doesn’t go by the wayside.


33 posted on 03/14/2013 7:17:43 PM PDT by stars & stripes forever ((Blessed is the nation whose God is the Lord!))
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To: Doogle

just wish someone would bring back the Beefsteak Rye bread

Beefsteak Rye Bread is the BEST. I hope it doesn’t go by the wayside.


34 posted on 03/14/2013 7:17:43 PM PDT by stars & stripes forever ((Blessed is the nation whose God is the Lord!))
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To: Doogle

Dittos on the Beefsteak [seedless] rye, used to get it on the cheap at a Hostess resale outlet in Northwood, OH. After they closed, every time I got the urge for a batch of Reuben sandwiches, Wallyworld here in town would be devoid of any rye whatsoever... Drag!


35 posted on 03/14/2013 7:20:18 PM PDT by W. (It's five o'clock somewhere...)
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To: W.

I was stunned...LOL.....their bread makes great sandwiches. I can’t get use to the others, they taste like cardboard


36 posted on 03/14/2013 7:22:46 PM PDT by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: stars & stripes forever

Little Debbies are big sellers in the local supermarkets. Quality cakes for $1.79 a box, often on sale two for $3.00. They have many seasonal offerings - distinctive cakes for Christmas, Valentine’s Day, etc.


37 posted on 03/14/2013 7:24:45 PM PDT by Ciexyz
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To: mylife
I don't buy them by the box because I couldn't possibly limit myself to fewer than "all of them."

I love/hate Little Debbie.

P.S. - I see your oatmeal creme pies and raise you one extra layer - the double-deckers are awesome/evil:


38 posted on 03/14/2013 7:51:36 PM PDT by Gil4 (Progressives - Trying to repeal the Law of Supply and Demand since 1848)
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To: Gil4

finally, the chance to get some ding dongs and and devil food mini doughnuts again. those walmart knockoffs just aren’t cutting it. I hear the first box of chocolate ding dongs is going to be delivered straight to obama and his buddy mr. love.


39 posted on 03/14/2013 8:03:32 PM PDT by Deathtomarxists (qucker fivepenny nine and two leaves down the plug bucket)
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To: W.

Hey there, W. Yum. Reubens.


40 posted on 03/14/2013 8:39:00 PM PDT by lysie
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To: Morgana

Drakes Devil Dogs and Coffee Cakes!!

Yum!!

Hope they make them exactly the same way.


41 posted on 03/14/2013 8:43:46 PM PDT by Iron Munro (I miss America, don't you?)
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To: stars & stripes forever

“just wish someone would bring back the Beefsteak Rye bread”, as long as we’re wishin’, let’s wish for Hypower Hot Tamales to come back.


42 posted on 03/14/2013 8:51:53 PM PDT by stickywillie (say all the bad stuff you want about phedophiles, but they slow down in school zones.)
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To: Morgana

$27 million for Drakes? That’s the price of one vacation for Zippy.


43 posted on 03/14/2013 9:00:54 PM PDT by St_Thomas_Aquinas
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