Hostess Brands Inc.is headed to a Feb. 28 auction, with Tastykake-owner Flowers Foods Inc.as the stalking-horse bidder for its bread business.

Flowers, through subsidiary FBC Georgia LLC, tendered a $360 million bid for 20 bakeries and the Butternut, Home Pride, Merita, Nature’s Pride and Wonder bread brands, plus a separate $30 million bid for the Beefsteak rye-bread brand.

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