date:Jan 29, 2013
McKee Foods Corp., maker of Little Debbie snack cakes, has offered $25 million to $30 million for the Drakes brand of Irving, Texas-based Hostess Brands Inc., according to an article in The Wall Street Journal. The Drakes brand includes products such as Devil Dogs, Ring Dings and Yodels.
Citing people familiar with the situation, the W.S.J. said Hostess plans to file a stalking-horse bid for the Drakes business today in the U.S. Bankruptcy Court in White Plains, N.Y.
The proposed transaction w