NEW YORK (AP) -- Flowers Foods Inc., said late Monday that it has received regulatory approval to acquire the Wonder, Nature's Pride, Merita, Home Pride and Butternut bread brands; 20 bakeries; and 36 depots from Old HB, Inc., formerly known as Hostess Brands.
In a release, Flowers said it expects to complete the transaction in the coming weeks.
In February, the company announced its agreement to purchase the assets from Old HB, Inc., for $360 million. It was deemed as the highest bid for those assets. In March, the court overseeing the Old HB Inc. bankruptcy proceeding approved the sale.
Flower Foods is based in Thomasville, Ga., and is one of the largest producers of packaged bakery foods for retail and foodservice customers in the U.S., with 2012 sales of $3.05 billion.
Flowers operates 44 bakeries that produce a wide range of bakery products. Among the company's brands are Nature's Own and Tastykake.
- Consumer Discretionary
- Mergers, Acquisitions & Takeovers
- Hostess Brands