Hostess Brands Inc. said in bankruptcy court Friday that it's narrowing down the bids it received for its brands and expects to sell off its snack cakes and bread brands such as Wonder to separate buyers.
An investment banker for the company said a likely suitor has emerged to buy the namesake Hostess brand, which include Twinkies, Ding Dongs and Ho Hos, along with Dolly Madison, which includes Zingers and Coffee Cakes. He said a separate bidder has emerged as a possible buyer for Drake's cakes, which includes Devil Dogs and Yodels.
Hostess, based in Irving, Texas, began shuttering its operations late last month.
