Flowers Foods Inc to buy Hostess Bread Brands

Made the only bid of $360 million

(Reuters)—Flowers Foods Inc is set to buy Hostess bread brands including Wonder bread for $360 million after no other bidder stepped up to make a competing offer, a source familiar with the matter said on Wednesday.

The bankrupt bakery company was set to run an auction on Thursday for the brands, which also include Butternut, Home Pride, Merita and Nature's Pride, but there will be no auction since there were no other bids, the source said.