Consumer & Retail | Mergers & Acquisitions

Hostess to sell Superior on Main to Sara Lee

  • TM Capital served as exclusive financial advisor to Hostess Brands, Inc. (“Hostess Brands”) in its announced divestiture of Hostess Superior Cake Products, Inc. (“Superior”) to Sara Lee Frozen Bakery, LLC (“Sara Lee”) for $65 million
  • Superior is a leading producer of distinctive, indulgent sweet baked goods including iced cookies, brownies, madeleines and éclairs, which are sold in the rapidly growing in-store bakery market within grocery chains, club stores and superstores nationwide
  • Hostess Brands (NASDAQ: TWNK), with a market capitalization of over $1.8 billion, is one of the largest packaged food companies focused on the sweet baked goods market in the U.S.
  • Sara Lee, a portfolio company of Kohlberg & Company, LLC, is a leading provider of frozen bakery and dessert products marketed under premier brands including Sara Lee, Van’s, Chef Pierre and Bistro Collection
  • Sara Lee expects to leverage Superior to grow its in-store bakery presence and expand its portfolio of premium bakery offerings

 

Read the full press release.