November 21, 2012 / 5:45 PM / in 5 years

BRIEF-Hostess getting intense interest from prospective buyers of brands

Nov 21 (Reuters) - Flowers Foods Inc : * Hostess brands inc lawyer says has received “a flood of inquiries” regarding

its brands * Hostess lawyer says expects to find “stalking horse” bidders for some brands

within a few weeks, with court-supervised auctions to follow * Hostess brands inc advisor says earlier this year received 6 bids for whole

co but none of them was actionable * Hostess brands inc advisor says process started in summer to see if could

sell individual brands to assist in funding to exit ch 11 * Hostess advisor says believes can sell the company for enough to recover debt

and administrative claims * Hostess advisor says hostess has received over two dozen inbound calls in

last 2-3 days * Hostess brands inc advisor says hostess could be worth $2.3-2.4 billion in

normal bankruptcy, roughly equal to its annual revenue, but expects discount

because plants have been closed * Hostess brands inc advisor says more than 50 parties have signed

non-disclosure agreements * Hostess advisor says hostess has received calls from regional bakers,

national competitors, customers, financial parties and consumer product

companies, international buyers * Hostess advisor says has about 140 financial buyers it is calling * Hostess brands inc advisor says seeing “very intense competition” for brands:

“these are iconic brands that people love.”

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