Hostess sells bread brands, bakeries, depots for $390M

http://www.cbsnews.com/8301-505143_162-57563616/hostess-sells-bread-brands-bakeries-depots-for-$390m/

Hostess, the creator of Twinkies and Ding Dongs, said in a statement on Friday that the company will sell its remaining brands, including its snack cakes, separately.
"We are pleased with the Flowers offers and look forward to a robust auction process that will allow these iconic brands to continue and to maximize value for all of the Company's stakeholders," said Gregory F. Rayburn, chairman and CEO of Hostess Brands. "We also continue to negotiate with parties interested in purchasing our snack cake business and remaining bread brands and expect to select additional stalking horse bidders as soon as reasonably practicable."