Hostess buyer secures regulatory approval for $360 million asset sale

By Caroline Salls

Pittsburgh, July 8 - Flowers Foods, Inc. received regulatory approval to purchase several bread brands and bakeries from Old HB, Inc., formerly Hostess Brands, Inc., for $360 million, according to a Flowers Foods news release.

The regulatory approval was obtained under the Hart-Scott-Rodino Act.

As previously reported, the sale includes Hostess' Wonder, Nature's Pride, Merita, Home Pride and Butternut bread brands, 20 bakeries and 36 depots.

The sale was approved by the U.S. Bankruptcy Court for the Southern District of New York in March.

Flowers said it expects to complete the transaction in the coming weeks.

Hostess Brands, an Irving, Texas-based operator of regional bakeries, filed for bankruptcy on Jan. 11, 2012. Its Chapter 11 case number is 12-22052.

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