Former Hostess wins OK of $6.8 million Jamaica, N.Y., asset sale

By Caroline Salls

Pittsburgh, Aug. 1 - Old HB, Inc., formerly Hostess Brands, Inc., received court approval of the $6.8 million sale of debtor Interstate Brands Corp.'s sale of its Jamaica, N.Y., assets to Amerco Real Estate Co., according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

As previously reported, 168 Douglas Realty LLC was the stalking horse bidder, with a $6.2 million offer.

Under the court-approved bid procedures, 168 Douglas will receive a $60,000 break-up fee since it was not the high bidder for the assets.

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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