Sara Lee Frozen Bakery Acquires Superior Cake Products from Hostess Brands
August 1, 2019
Sara Lee Frozen Bakery agreed to acquire Hostess Brands' in-store bakery business Superior Cake Products, Inc. for $65 million in cash, subject to customary post-closing adjustments. The deal (announced August 1, 2019) is expected to close in the third quarter of 2019 and will expand Sara Lee Frozen Bakery's presence in the in-store bakery category while Hostess intends to deploy proceeds to de-lever and pursue strategic options.
- Buyers
- Sara Lee Frozen Bakery
- Targets
- Superior Cake Products, Inc.
- Sellers
- Hostess Brands, Inc.
- Industry
- Food & Beverage
- Location
- Massachusetts, United States
- Transaction Type
- Divestiture
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