- Flowers Foods Inc. announced Monday that it has officially received regulatory approval to purchase the former Hostess bread brands Wonder, Nature's Pride, Merita, Home Pride and Butternut.
- The $360 million deal, which was outlined in Feburary, will also include the transfer of 20 bakeries and 36 depots from Old HB, Inc. to Flowers.
- The purchase will add some well-recognized brands to Flowers' portfolio, though as The Wall Street Journal reports, American bread tastes are changing, thanks to aversions to gluten and white bread, and those preferences could means challenges ahead for some of Flowers' new brands.
From the press release:
... In February 2013, the company announced its agreement to purchase the assets from Old HB, Inc. for $360 million was declared the best and highest bid for such assets. In March 2013, the court overseeing the Old HB, Inc. bankruptcy proceeding approved the sale. ...