Hostess Brands Inc. said yesterday that it has selected stalking-horse bidders for its Drake's cake business and additional bread brands that will net the bankrupt bakery company more than $56 million, Reuters reported yesterday. McKee Foods, maker of Little Debbie snack cakes, is offering roughly $27 million for Drake's, which makes Devil Dogs, Ring Dings and Yodels. United States Bakery Inc., also known as Franz Family Bakery, is expected to bid about the same amount for Hostess bread brands including Sweetheart, Eddy's, Standish Farms and Grandma Emilie's.
