Hostess picks Little Debbie maker for Drake's cakes

[Eugene]

Source: Associated Press

AP/ January 28, 2013, 5:21 PM

Hostess picks Little Debbie maker for Drake's cakes

NEW YORK Hostess has picked the maker of Little Debbie as the lead bidder to buy its Drake's cakes.

According to a filing in U.S. bankruptcy court, McKee Foods has offered $27.5 million in cash for the cake brands, which include Devil Dogs, Funny Bones and Yodels. The fate of Twinkies and other Hostess cakes are still being negotiated with other bidders.

The "stalking horse" bid by McKee would set the floor for an auction process that lets competitors make better offers. A judge would have to approve the final sale.

McKee Foods, based in Collegedale, Tenn., makes a variety of snack cakes under the Little Debbie banner that compete with Hostess cakes at a lower price. For example, its Cloud Cakes resemble Twinkies and its Devil Cremes resemble Devil Dogs.

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Read more: http://www.cbsnews.com/8301-34227_162-57566289/hostess-picks-little-debbie-maker-for-drakes-cakes/

[pipoman]

1. Devil Dogs, Funny Bones and Yodels?

Regional brands? I've not heard of any of those..

[aikoaiko]

2. You have to get out more.

I keed. I keed.

[Codeine]

3. I think Drake's is a Northeastern thing.

I've only heard of them from watching Seinfeld.

[Freddie]

4. Was Drakes Cakes at one time

HQ in Philly or NJ. Was bought by Hostess but they kept the product line regional (East Coast) I think.
The food scientist who invented Funny Bones in the 1960s, now retired, is a personal friend and a great guy, although I told him he was personally responsible for at least some of my hips!

[surrealAmerican]

6. New York.

They had been their own company, but we're bought out by Hostess sometime in the 1970's I think. They kept them around because they had a strong following. I remember when I was a kid we would drive past their bakery - and open all the car windows because it smelled so good.

[Freddie]

5. Regional rival to Tastykakes

Tastykakes were always better IMO (no offense to my friend who invented Funny Bones!)