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Saturday
Jan122013

Hostess Strikes Deal to Sell Wonderbread, Fate of Twinkies Not Yet Settled

David Paul Morris/Bloomberg via Getty Images(NEW YORK) -- The iconic Wonderbread, once in jeopardy after Hostess declared bankruptcy, seems likely to return to store shelves under a new brand.

A $390 million bid from Flower Foods Inc., for six of the Twinkie maker’s bread brands, was the leading bid on Friday.

Flower Foods, which is based in Thomasville, Ga., is best known for making Tastykakes, which are cream filled chocolate cupcakes. The company also makes breads, including Nature’s Own and Cobblestone Mill.

Higher competing bids can still be made before the final deal is approved in bankruptcy court.

Hostess is expected to announce buyers for Twinkies, Devil Dogs and its other popular snack cakes in the coming weeks.

Copyright 2013 ABC News Radio