Exclusive: Flowers wins Wonder bread with unchallenged bid - source
By Martinne Geller | February 28, 2013 2:56 AM EST
Flowers Foods Inc
The bankrupt bakery company was set to run an auction on Thursday for the brands, which also include Butternut, Home Pride, Merita and Nature's Pride, but there will be no auction since there were no other bids, the source said.
There will be an auction for the Beefsteak brand, for which Flowers bid $30 million, since Hostess received a higher bid from Mexico's Grupo Bimbo
The deal with Flowers is still subject to approval by a bankruptcy court.
Flowers agreed in January to be the "stalking horse" bidder, which set a floor for the bidding and was subject to a court-supervised auction.
Hostess declined to comment. Flowers and Bimbo were not immediately available to comment.
(Reporting by Martinne Geller in New York; editing by Soyoung Kim and Matthew Lewis)