Hostess Brands, Inc. may be close to a deal to secure bidders for a cake business and four bread operations.
The deals could net the bankrupt company more than $50 million.
One deal would sell Drake’s Cake to McKee Foods, the parent company of Little Debbie snacks.
A second deal would sell four hostess bread brands to the Franz Family Bakery.
A bidder for iconic snack brands such as Twinkies is expected soon.
Hostess is liquidating its assets, selling off everything from bakery brands and equipment to real estate.