Home>Topics>>Flowers Foods to buy some Hostess brands for $390 million
Flowers Foods to buy some Hostess brands for $390 million
Reuters: Business News
Fri, 11 Jan 2013
(Reuters) - Flowers Foods Inc on Friday said it has agreed to buy Wonder and other well-known bread brands from Hostess Brands Inc for $390 million, as part of the latter company's bankruptcy reorganization.
The Fairholme manager comments on the fund's significant investment in the convertible bonds and bank debt of bankrupt mall operator General Growth Properties.
A shorter, more orderly bankruptcy process is good news for distressed debt investors, but it does shift the game a little bit, says Third Avenue's Jeff Gary.