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Hostess Brands Selects Flowers Foods as Winning Bidder for Majority of Bread Business, Including Wonder®

 Hostess Brands Selects Flowers Foods as Winning Bidder for Majority of Bread
                         Business, Including Wonder®

- Grupo Bimbo Selected as Winning Bidder for Beefsteak® Bread Business in
Separate Transaction

- Combined Proceeds for Proposed Transactions Total Approximately $391.9
Million

- Company to Seek Court Approval of Sales on March 19

PR Newswire

KANSAS CITY, Mo., Feb. 28, 2013

KANSAS CITY, Mo., Feb. 28, 2013 /PRNewswire/ --Hostess Brands Inc. ("Hostess
Brands" or the "Company") today announced that the stalking horse bid
submitted by Flowers Foods, Inc. (Flowers) for the majority of the assets
related to the Company's bread business, including the Butternut®, Home
Pride®, Merita®, Nature's Pride® and Wonder® brands, will be the bid presented
for approval to the U.S. Bankruptcy Court as no other qualified bids were
received for those assets.

Flowers has agreed to pay $360 million for the majority of the bread business
assets. The agreement includes, in addition to the brands, 20 bakeries, 38
depots and other assets. In a separate transaction, Grupo Bimbo, S.A.B. de
C.V. was selected as the winning bidder for the assets related to the
Company's Beefsteak® bread business at the conclusion of today's auction.
Grupo Bimbo has agreed to pay $31.9 million for the Beefsteak® assets.

The Company will ask the U.S. Bankruptcy Court for the Southern District of
New York to approve both transactions at a hearing on March 19.

"The proposed sales will result in significant proceeds for the benefit of the
Company's stakeholders and ensure the beloved bread brands can continue to be
enjoyed for years to come," said Hostess Brands Chairman and Chief Executive
Officer Gregory F. Rayburn.

As previously announced, Hostess Brandsis also pursuing the sale of its
remaining brands, including Hostess®, Dolly Madison®, Drake's®, Sweetheart®,
Eddy's®, Standish Farms® and Grandma Emilie's®.

Jones Day provided legal advice to Hostess Brands on the transaction. Perella
Weinberg Partners served as the Company's financial advisor.

About Hostess Brands

Founded in 1930, the Company's products include iconic brands such as
Hostess®, Wonder®, Nature's Pride®, Dolly Madison®, Drake's®, Butternut®, Home
Pride®, and Merita®.



SOURCE Hostess Brands Inc.

Contact: Tom Becker, +1-212-573-6100, Tom_Becker@sitrick.com, Anita-Marie
Laurie, +1-310-788-2850, AnitaMarie@sitrick.com, both of Sitrick And Company