February 26, 2014 |
As an independent company, Tasty Baking Co. didn't quite make it to Tuesday's 100th anniversary, selling out to Flowers Foods Inc. in 2011 for $141 million to avoid bankruptcy. But nearly three years after the rescue, the Tastykake brand - which drips nostalgia in the Philadelphia region, but had failed to break through nationally - has renewed strength. The Flowers bailout has given workers at Tasty's bakery in South Philadelphia and delivery-route owners throughout the Mid-Atlantic the chance to celebrate the brand's centennial.
February 28, 2013
In the Region Casey appeals for airline jobs U.S. Sen. Bob Casey (D., Pa.) appealed to US Airways and American Airlines to retain jobs in Pennsylvania, including 1,900 in Pittsburgh, after the carriers merge. Casey wrote to the chief executives of both airlines urging them to keep an aircraft maintenance facility and operations control center in Pittsburgh, and to add flights between smaller Pennsylvania cities to support the growing Marcellus Shale industry. Airline officials could not be reached for comment.
January 7, 2013 |
NEW YORK - The makers of Thomas' English muffins and Tastykake snacks are emerging as bidders for Wonder Bread and other Hostess bread brands as the company tries to sell off its assets under bankruptcy court oversight, a newspaper reported Saturday. The Wall Street Journal said Hostess Brands Inc. could announce as early as this week that Flowers Foods Inc. and Grupo Bimbo SAB are in discussions to acquire the bread brands, which include Nature's Pride. The report said the brands could command $350 million.
November 21, 2012 |
Sun Capital Partners Inc., the Florida firm co-headed by Philadelphia 76ers co-owner Marc J. Leder, is among the buyers interested in Hostess Brands if a bankruptcy judge approves the Twinkie and Wonder Bread owner's liquidation, Leder told Dan Primack, a writer for Fortune, on Monday. "I think that we could offer a slightly better, more labor-friendly deal than what was on the table last week," Leder told Primack. Leder is also the backer of Mitt Romney who hosted the GOP presidential candidate's infamous "47 percent" fund-raising pitch.
November 20, 2012 |
DETROIT - Twinkie lovers, relax. The tasty, cream-filled golden spongecakes are likely to survive, even though their maker will be sold in bankruptcy court. Hostess Brands Inc., baker of Wonder Bread as well as Twinkies, Ding Dongs and Ho Ho's, will be in a New York bankruptcy courtroom Monday to start the process of selling itself. The company, weighed down by debt, management turmoil, rising labor costs and the changing tastes of America, decided on Friday that it no longer could make it through a conventional Chapter 11 bankruptcy restructuring.
November 19, 2012 |
WITH THE imminent closing of the Hostess plant in Northeast Philadelphia, several hundred people are expected to lose their jobs in the region and thousands nationwide. The loss of anyone's job is a sad affair, and it's only compounded by Thanksgiving falling next week and the Christmas holidays just around the corner. But Hostess has always been an also-ran in the Philadelphia region. This is Tastykake territory. Hostess had a power lineup of Twinkies, Ding Dongs and Ho-hos.
November 17, 2012 |
With the imminent closing of the Hostess plant in Northeast Philadelphia, several hundred people are expected to lose their jobs in the region and thousands nationwide. There's nothing funny about that. The loss of anyone's job is a sad affair, and it's only compounded with Thanksgiving falling next week and the holidays just around the corner. But Hostess has always been an also-ran in the Philadelphia region. This is Tastykake territory. Hostess had a power lineup of Twinkies, Ding Dongs and Ho-hos.
March 22, 2012
Flowers Foods, the Georgia-based bread- and snack-maker that bought Philadelphia's Tasty Baking Co. last year, is weighing whether to build a new bread bakery in the Philadelphia area. The company "is a week or three away from an announcement of a new bread bakery with access to the eastern Pennsylvania market," writes Mitchell Pinheiro, food-industry analyst at Janney Capital Markets, in a report to clients Monday, after visiting with Flowers officials at the company's South Philadelphia snack factory.
March 21, 2012
Less than a year after buying Tasty Baking Co., the top management of Flowers Foods Inc. came to South Philadelphia on Tuesday to hold its analyst day. Flowers Foods chief executive George E. Deese sounded thrilled on a webcast of the presentations to be stomping around the bakery that Charlie Pizzi Built. With as much hand-wringing that was going on in early 2011 over the financial strains that ultimately cost Tasty Baking its independence, it was good to hear Deese describe the snack-food baker's performance as "exceeding expectations.
January 12, 2012 |
Hostess Brands , the bakery chain that sold $2.5 billion worth of Wonder Bread, Twinkies, Devil Dogs, Ding Dongs, and other durable breads and fatty snacks last year, hopes its new bankruptcy filing in New York will let it escape $860 million it owes pension plans for retired truck drivers and other creditors, chief executive Brian J. Driscoll said in court papers. ( Read his affidavit here ) Hostess, whose far-flung operations include a bakery on Grant Avenue in Northeast Philadelphia and truck terminals in Valley Forge, Wilmington, and Atlantic City, says its lead debtor, Greenwich, Conn., buyout firm Silver Point Capital L.P. , has agreed to lend it money so it can keep the bakeries open while Hostess tries to get a judge to impose work-rule, pension, and medical-care concessions it failed to win in union negotiations.