Hostess Brands Is Exploring Sale Amid Takeover Interest

Hostess Brands Inc, the maker of Twinkies snack cakes, is exploring a sale after fielding takeover interest from major snack food makers, people familiar with the matter said on Friday.

Hostess became an acquisition target after it raised prices on some of its products to boost revenue, fueling investor concerns over its prospects. Prior to the news of the company exploring a sale, its shares were down 1% year-to-date, versus a 29% rise in the Nasdaq Composite Index.

General Mills Inc, Mondelez International Inc, PepsiCo Inc and Hershey Co are among the companies that have shown an interest in acquiring Hostess, the sources said.

Read the source article at Yahoo Finance