Southbridge facility part of $725M Hostess deal
Business Wire
The Southbridge facility making baked goods under the “Superior on Main” name is part of a $725-million deal orchestrated by a private equity firm that took the company public on Monday.
The Southbridge facility known as Superior Cake Products that makes sweet goods including eclairs, brownies and other baked goods that are sold at in-store bakeries at retailers was purchased by Hostess in June. The acquisition was made to extend Hostess beyond its traditional offerings and into the in-store bakeries.
That deal made the former Superior Cake Products part of a $725-million deal that closed last week from private equity firm Gores Group to obtain a majority share of stock in the company with the intention of taking the company public, according to a release from the group.
Since going public on Monday, the Hostess stock has risen from a low of $11.50 to a high of $12.25 and settled at a price above $12.
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