TULSA - A Georgia-based company has announced it has signed two asset purchase agreements with Hostess Brands, Inc. which would allow it to take over some popular brands of the bankrupted company, including Wonder Bread, as well as 20 bakeries, including the one in Tulsa.
The Tulsa bakery produced Wonder Bread until it shut down after Hostess filed bankruptcy.
Flower Foods, Inc. says the deal is worth about $360 million, and includes 38 depots and a number of brands, including Nature's Pride, Merita, Home Pride and Butternut.
Flowers says it's a "stalking horse bidder" for the assets, and that the deals are contingent on approval by a bankruptcy court as well as regulatory clearance.
If the bids are approved by the court, then they would be subject to a competitive auction process.
KRMG has confirmed with the company that the deal includes the Tulsa Wonder Bread bakery.
Hostess shut down all its plants and filed for bankruptcy in November after a bitter and contentious nationwide strike.