Flowers Foods Inc. has confirmed that it was the highest bidder for several of Hostess’ bread brands and bakeries, including the one in Biddeford.
The Georgia company’s bid of $360 million for five of Hostess’ bread brands, including Wonder and Nature’s Pride, and roughly 38 warehouses and 20 bakeries was not topped by another bidder, so no auction was held, Keith Hancock, a spokesman for Flowers, told the Bangor Daily News on Tuesday.
Flowers did not bid for the Twinkies business or any of Hostess’ other cake brands. The company already owns Auburn-based Lepage Bakeries, which it acquired in July 2012.
It is still too early in the process for Flowers to comment on what plans, if any, the company would have for Hostess’ former bakery in Biddeford, Hancock said.
“It’s still not a done deal,” he said.
“It did pass one critical procedural step,” he said. “The next phase is it goes to a bankruptcy hearing on March 19, where the judge will evaluate this bid, as well as other bids for the cake brands, and any objections that have come in. That’s the next big hurdle.”
If the bankruptcy judge approves the deal it will still be subject to normal federal regulatory review, Hancock said. “We’re potentially still several months away before this is finalized,” he said.
Hostess, the maker of Twinkies, in January 2012 filed for bankruptcy and in November said it would shut down for good.
Flowers, which owns brands such as Nature’s Own and Tastykake, in January signed an agreement to acquire several of the Hostess brands and the 20 bakeries, though that agreement was subject to an auction if another company made a higher bid.