1/28/2013

The bankruptcy court has granted Hostess Brands permission to sell most of its bread brands in an auction on Feb. 28. Hostess will submit an agreement to sell the remaining bread brands and the Drake's snack cake brand this week, a spokesman for the company said. McKee Foods, maker of Little Debbie Snack Cakes, is offering $25 million to $30 million for the Drake's brand, which includes Yodels and Devil Dogs, according to people familiar with the negotiations.

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