Court gives Hostess OK to auction brands


WHITE PLAINS, N.Y. — Hostess Brands Inc. won bankruptcy-court approval Monday to hold auctions for brands including Wonder Bread, Twinkies, and Drake’s.

U.S. Bankruptcy Judge Robert Drain approved Flowers Foods Inc., McKee Foods Corp., United States Bakery Inc., Apollo Global Management LLC, and C. Dean Metropoulos & Co. as lead bidders for most of Hostess’ cake and bread brands, setting the thresholds other suitors must exceed. A hearing to approve bids is set for March 19.