KANSAS CITY, Mo. - Hostess has agreed to sell six of its bread brands for $390 million to Flowers Foods based in Georgia. The deal includes the iconic Wonder Bread brand.
Hostess has been trying to sell off its assets under bankruptcy-court oversight.
The company announced in November it was shutting down its business and selling its brands along with its 33 bakeries.
The company said a strike crippled its ability to maintain normal production.
Hostess is expected to announce buyers for its dessert cake brands in the coming weeks, but there was no word on any sale of the bakery facilities.