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McKee Foods to acquire Hostess' Drake's business -source
March 14 |
March 14 (Reuters) - McKee Foods Corp is set to acquire Hostess Brands Inc's Drake's snack cake business for $27.5 million after no other qualified bids were submitted, according to a source close to the matter.
An auction set for Friday for the Drake's business was canceled, the source said.
Hostess is liquidating after filing for bankruptcy last year.
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