Business

Hostess Bidders Include Walmart, Kroger: Report

CHICAGO, IL - DECEMBER 11: Hostess snacks are offered for sale at a Jewel-Osco grocery store on December 11, 2012 in Chicago, Illinois. The Jewel-Osco grocery store chain purchased the last shipment of 20,000 boxes of Hostess products and put them on sale in their stores throughout the Chicago area today. Hostess Brands Inc. shut down its baking operations and began liquidating assets last month after failing to negotiate a labor contract with Workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (Photo by Scott Olson/Getty Images)
CHICAGO, IL - DECEMBER 11: Hostess snacks are offered for sale at a Jewel-Osco grocery store on December 11, 2012 in Chicago, Illinois. The Jewel-Osco grocery store chain purchased the last shipment of 20,000 boxes of Hostess products and put them on sale in their stores throughout the Chicago area today. Hostess Brands Inc. shut down its baking operations and began liquidating assets last month after failing to negotiate a labor contract with Workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (Photo by Scott Olson/Getty Images)

Reuters) - Hostess Brands Inc, the bankrupt Twinkie and Wonder Bread maker, has received bids for assets being sold by about two dozen parties including Wal-Mart Stores Inc

Some of the bidders are interested in acquiring all of the Hostess assets, while others are just focused on its cake or breads businesses, said the report by Bloomberg, which cited a person familiar with the matter.

Spokesmen for Hostess, Wal-Mart and Kroger all declined to comment. A banker at Perella Weinberg, which is running the sale, was not immediately available.

Hostess received court permission last month to wind down its 82-year-old business, which cleared the way for the company to begin selling assets. Proceeds will help it repay creditors.

It has about $900 million of secured debt and faces up to about $150 million of administrative claims.

By early January, the company expects to have initial bids for its various brands, which will then be put to auction.

Wal-Mart shares were up 0.5 percent at $69.27 in late afternoon trade while Kroger shares were down 0.6 percent at $26.42.

(Reporting By Olivia Oran; Editing by Alden Bentley)

13 Delicious Hostess Products