January 26, 2013

Report: McKee Foods seeking Hostess' Drake's brand

The Associated Press

NEW YORK — A published report said McKee Foods Corp. is offering to pay between $25 million to $30 million to acquire the Drake's brand from Hostess Brands Inc.

The report late Friday in The Wall Street Journal cited unnamed people familiar with the negotiations between the two packaged food companies. McKee, based in Collegedale, Tenn., makes Little Debbie snack cakes.

Hostess, based in Irving, Texas, is filling bids for its brands in stages after announcing in November plans to close its business. The bids set a floor for an auction process that lets rivals make better offers.

Hostess said Friday that it expects to unveil a bidder for Drake's snack cakes, which include Devil Dogs and Yodels, next week.

McKee spokesman Mike Gloekler declined to comment on the report Saturday.

An email and phone call to a Hostess representative was not immediately returned.

Were you interviewed for this story? If so, please fill out our accuracy form

Send question/comment to the editors




Further Discussion

Here at OnlineSentinel.com we value our readers and are committed to growing our community by encouraging you to add to the discussion. To ensure conscientious dialogue we have implemented a strict no-bullying policy. To participate, you must follow our Terms of Use.

Questions about the article? Add them below and we’ll try to answer them or do a follow-up post as soon as we can. Technical problems? Email them to us with an exact description of the problem. Make sure to include:
  • Type of computer or mobile device your are using
  • Exact operating system and browser you are viewing the site on (TIP: You can easily determine your operating system here.)