Hostess receives approval to sell Drake’s and remaining bread brands
US Bankruptcy court gave the go ahead on the $58.4 million deal.
Hostess Brands announced it received approval from US Bankruptcy Court to sell its Drake snake cake brands as well as four bread brands in two separate transactions. McKee Foods Corporation purchased the Drake’s brand for $27.5 million, while the sales of the Sweetheart, Eddie’s, Standish Farms and Grandma Emilie’s bread brands and bakeries brought $30.9 million from United States Bakery. Hostess has retained Hilco Industrial, LLC to market and sell remaining assets including property and equipment.