Business briefs

2013-01-13T00:00:00Z Business briefsFrom Wire Reports From Wire Reports Arizona Daily Star
January 13, 2013 12:00 am  • 

Flower Foods wins bid for Wonder bread

Hostess has found a new home for its most popular breads, including the iconic Wonder bread.

The bankrupt maker of Twinkies, Devil Dogs and other snack cakes said late Friday that it selected bids by rival bakery Flower Foods Inc. to buy six of its bread brands for $390 million.

Flower Foods, based in Thomasville, Ga., is best known for Tastykakes but also makes breads including Nature's Own and Cobblestone Mill. Hostess is expected to announce buyers for its famed dessert cakes in coming weeks.

'McDreamy's' group gains Tully's Coffee

SEATTLE - The auction for the beleaguered Tully's Coffee chain concluded Friday in federal bankruptcy court, with a judge approving the sale to an ownership group led by actor Patrick Dempsey.

Dempsey - dubbed "McDreamy" in the TV hospital drama "Grey's Anatomy" - had claimed victory the week before, after bidding concluded, but a company that teamed up with Starbucks to make an offer for Tully's filed an objection.

AgriNurture Inc. had said it was still willing to proceed with its combined bid with Starbucks Corp. of about $10.6 million. The bid from Dempsey's company, Global Baristas LLC, was for $9.2 million.

A judge said the Jan. 4 auction was fair and no mistakes were made. Dempsey said he was "thrilled that we prevailed."

The Associated Press

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