Hostess Brands, the US bakery manufacturer owned by Gores Holdings, has announced that it has acquired a number of assets from rival Aryzta as it looks to strengthen its hand in the breakfast foods space.
The deal includes one of Aryzta’s Chicago Cloverhill bakery facilities (the largest individually-wrapped Danish pastry facility in North America), the Big Texas and Cloverhill brands and also supply partnerships with several key retailers of Hostess Brands, the firm said.
Hostess Brands said the deal would give it greater access to the club, vending, cash and carry and independent convenience stores sales channels, provide for a strong breakfast partnership with several existing key retailers, and was also expected to reduce its reliance on co-manufacturing.
Commenting on the deal, Hostess Brands executive chairman Dean Metropoulos said: “This is an excellent enabling acquisition for the Hostess breakfast strategy and fills a key strategic gap in our product portfolio. The Big Texas and Cloverhill brands and private label partnerships will add significant strength to our growing breakfast business”.
Source: Hostess Brands (via Businesswire)
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