Hostess Brands to sell Superior Cake Products to Sara Lee Frozen Bakery
Superior Cake Products, Southbridge, Mass., produces a range of sweet goods, including Éclairs, Madeleines, Brownie Bites, Black and White Cookies and other offerings made under the Superior on Main brand name.
Hostess Brands, Inc., Kansas City, Mo., entered into a definitive agreement to sell its Superior Cake Products, Inc. in-store bakery business to Sara Lee Frozen Bakery, Oakbrook Terrace, Ill., for $65 million in cash.
“Superior has been a high performing business, and we believe that it will continue to thrive in Sara Lee Frozen Bakery’s portfolio, as we focus our future investments on areas of our business that better leverage our core competencies and pillars for growth. I would like to thank the Superior team for their contributions to the company, and wish them continued success as they move forward under new ownership,” says Andy Callahan, president and CEO of Hostess.
Superior Cake Products, Southbridge, Mass., produces a range of sweet goods, including Éclairs, Madeleines, Brownie Bites, Black and White Cookies and other offerings made under the Superior on Main brand name. In 2016, Hostess acquired Superior for $51 million.
“We are thrilled to add Superior to our portfolio of established and iconic brands,” says Craig Bahner, chief executive officer of Sara Lee Frozen Bakery. “This acquisition accelerates Sara Lee Frozen Bakery’s strategic goal of expanding our presence in the high-growth in-store bakery category. Along with our new colleagues at Superior, we will continue to innovate and deliver irresistible foods that meet retail customer and consumer demands for premium, ‘worth it’ indulgences.”