Last updated on June 13th, 2024 at 05:05 pm
Grocery News In Brief…
Hostess Brands LLC has new owners and plans to go public. The maker of Hostess Twinkies, Ding Dongs and CupCakes has entered into new agreement with Gores Holdings Inc., which will introduce Hostess as a publicly listed company with an anticipated initial enterprise value of approximately $2.3 billion. Funds managed by affiliates of Apollo Global Management and C. Dean Metropoulos and family, the current majority owners of Hostess, expect to hold an approximately 42 percent combined stake in Gores Holdings upon completion of the transaction. Dean Metropoulos and William Toler will continue to lead the company as executive chairman and CEO, respectively. Commenting on the transaction, Metropoulos said, “We look forward to continuing both our strong organic growth through unique innovations and niche, strategic acquisitions, such as our recent acquisition of Superior Baking, which will extend Hostess’ consumer reach in the ‘in-store bakery’ market and expand offerings to customers.”…
General Mills continues to collaborate with health officials to investigate a multi-state outbreak of E. coli and is expanding its recall of Gold Medal flour, Wondra flour and Signature Kitchens flour to include flour made earlier in the fall that may still be in shoppers’ pantries. The recall is being expanded due to a newly reported illness that appears to have stemmed from the consumption of raw dough or batter linked to flour produced last fall…
NEWFDA’s 16th annual golf outing will be held Tuesday, July 12, at the Lake of Isles Golf Course at Foxwoods Resort, Connecticut.
