McKee Foods Corp. today completed its $27.5 million purchase of Drake’s cakes from the bankrupt Hostess bakery.
U.S. Bankruptcy Judge Robert Drain in White Plains, New York, signed off on the sale to McKee, which submitted the only qualified bid for the brands. McKee spokesman Mike Gloekler said. McKee will take over the name and some of the baker equipment as soon as possible and begin making Drake’s products, including Devil Dogs, Ring Dings, Yodels, Yankee Doodles, Sunny Doodles, Funny Bones and Drake’s Coffee Cake.
“We hope to be able bring these products back on the shelf in the very near future,” Gloekler said.
McKee Foods, based in Collegedale, will likely produce most of the Drake’s products at its plant in Virginia.
Dave Flessner is the business editor for the Times Free Press. A journalist for 35 years, Dave has been business editor and projects editor for the Chattanooga Times Free Press, city editor for The Chattanooga Times, business and county reporter for the Chattanooga Times, correspondent for the Lansing State Journal and Ingham County News in Michigan, staff writer for the Hastings Daily Tribune in Nebraska, and news director for WCBN-FM in Michigan. Dave, a native ...