McKee Foods Corporation Named As Winning Bidder For Drake’s Snack Cakes

Thursday, March 14, 2013

Hostess Brands Inc. on Thursday announced that the stalking horse bid submitted by McKee Foods for the Drake’s snack cake brand will be the bid presented for approval to the U.S. Bankruptcy Court as no other qualified bids were received for those assets.

“We know that Drake’s Cakes are unique baked goods that have a loyal following,” said Mike McKee, president and CEO. “McKee Foods is a family-owned bakery, similar to how Drake’s was established as a family bakery 125 years ago. We have generations of experience in baking, and we will strive to bake the Drake’s cakes, not just for taste and quality, but also to deliver on the memories of the loyal Drake’s fans.”

McKee Foods has agreed to pay $27.5 million for the Drake’s brand and certain equipment. Drake’s products include Ring Dings, Yodels, Devil Dogs, Yankee Doodles, Sunny Doodles and Drake’s Coffee Cake. Hostess will ask the U.S. Bankruptcy Court for the Southern District of New York to approve the transaction at a hearing on Tuesday, April 9. No part of the sale will be final until this approval is granted.


Chattanooga Business Calendar Nov. 29 to Dec. 6

MO/1 Reality Check - Bethel Christian Academy 1:30 p.m. to 2:30 p.m. Bethel Christian Academy: 3001 Hamill Rd. Reality Check teaches 9th graders budgeting and emphasizes the connection between education and income by allowing students to role-play as heads of household while trying to provide for their families on a set budget. Community volunteers are needed to assist ... (click for more)

October 2014 County Unemployment Rates

County unemployment rates for October 2014, released today, show the rate decreased in 80 counties, increased in 10 counties, and remained the same in five counties. Specific county information for October is available here .  Knox County had the state’s lowest major metropolitan rate in October at 5.1 percent, down from 5.4 in September. Davidson County was 5.2 percent ... (click for more)

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Appeal Dropped In $25 Million Lawsuit Filed Against Hennen's Restaurant By Lisa Barnes

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Lawlessness At Heritage Park

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Roy Exum: A Grand Thanksgiving Feast

I’m not really sure how it all came about but a few days before Thanksgiving last year, what was usually a crowded table had dwindled down to just Mother, Aunt Martha and me. Just the idea of getting dressed up made both of them tired, which happens when you are 89 and 87, respectively, and the thought of preparing the traditional feast brought only further groans so I announced ... (click for more)