date:Mar 15, 2013
The $27.5 million bid put forth by Collegedale, Tenn.-based McKee Foods Corp. in late January for the Drakes snack cake brand of Hostess Brands, Inc. will be the bid presented for approval to the U.S. Bankruptcy Court on April 9 after no other qualified bids were received for the assets by the March 12 deadline.
As part of the agreement, McKee has agreed to pay $27.5 million for the Drakes brand and certain equipment. Drakes products include Ring Dings, Yodels, Devil Dogs, Yankee Doodles, Sunny