$390 Million Hostess Twinkie Deal with Flowers Foods

Flowers Foods announced Friday that they have a signed agreement to buy some of the Hostess Bread Brands and Bakeries for $390 million. Flowers plan on purchasing Wonder, Butternut, Home Pride, Merita and Nature’s Pride brands as well as 30 bakeries and 38 depots. The Beefsteak brand is slated to sell for $30 million of the $390 million deal.

Headquarted in Thomasville, Ga., Flowers is the second-largest maker of baked, packaged foods and has annual sales of more than $3 billion in the U.S. The completion of the deal is subject to court-approval initiated by Hostess.