- Hostess Brands Inc. formally announced on Thursday that McKee Foods will be submitted to the U.S. Bankruptcy Court as a bid for the Drake's snake cake brand.
- McKee bid $27.5 million for the cakes brand and associated equipment.
- The brand encompasses Ring Dings, Yodels, Devil Dogs, Yankee Doodles, Sunny Doodles and Drake’s Coffee Cake.
From the article:
"... 'We know that Drake’s Cakes are unique baked goods that have a loyal following,' said Mike McKee, president and CEO. 'McKee Foods is a family-owned bakery, similar to how Drake’s was established as a family bakery 125 years ago. We have generations of experience in baking, and we will strive to bake the Drake’s cakes, not just for taste and quality, but also to deliver on the memories of the loyal Drake’s fans.' ..."