Reuters: Flower Foods to buy Hostess bread brands - Toledo News Now, Breaking News, Weather, Sports, Toledo

Reuters: Flower Foods to buy Hostess bread brands

Posted: Updated:
(Toledo News Now) -

Portions of the Hostess brand could go under new management soon.

According to Reuters, Flowers Foods Inc. is set to buy Hostess bread brands, which includes Wonder bread, for a price of $360 million. A source close to the matter said no other bidder made a competitive offer.

The deal with Flowers Food Inc. is still subject to approval by a bankruptcy court, says Reuters.

Hostess shut down operations and sold its brands and bakeries in November 2012, after employees across the country began striking over a union-rejected contract.

At the Northwood plant, 160 employees lost their jobs. Nationwide, 18,000 employees lost their jobs.

"It's been slow and it's been tough," said Mark Popovich, who used to work at the Northwood plant. "We're just sitting and waiting and all trying to get employment."

But Popovich said the recent news has given him hope.

"It's good news because it'll be done and we can move on to see what the next step is with our old plant and what they're going to do," he said.

The Northwood plant is only about 14 years old and has been upgraded on a regular basis, according to Popovich. But that's not the only reason he thinks it would be beneficial to Flowers Foods to open the plant again. Putting the previous employees back to work could save them time.

"We know the whole operation, we've done it for years," he said. "There's a lot of experience there, a lot of knowledge."

Read more on Hostess:

Copyright 2013 Toledo News Now. All rights reserved.