Hilco completes former Hostess sale, gets $62.5 million for assets

By Caroline Salls

Pittsburgh, Oct. 3 - Hilco Real Estate completed the Old HB, Inc., formerly Hostess Brands, Inc., asset sale it was awarded in December 2012, yielding $62.5 million for 140 properties, machinery and equipment and thousands of trucks, according to a Hilco news release.

Hilco said the real estate, consisting of bakeries, depots, distribution buildings and retail outlet locations spread across 34 states, was sold to investment firm Hackman Capital Partners, LLC. Hilco Real Estate was the exclusive national disposition agent for the sale.

The 140 properties Hackman purchased include former bakery plants in Los Angeles and Oakland, Calif., Wayne, N.J., St. Louis, Philadelphia, Cincinnati and Defiance, Ohio.

The assets also include 3,400 trucks and delivery vans, as well as distribution and retail buildings that once sold the trademark Twinkies and Wonder Bread products.

Hilco Real Estate president Greg Apter said the company received hundreds of bids for individual properties.

Hostess Brands, an Irving, Texas-based operator of regional bakeries, filed for bankruptcy on Jan. 11, 2012 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 12-22052.

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