Sara Lee Frozen Bakery is acquiring Superior Cake Products, Inc., from Hostess Brands, Inc., Kansas City, for $65 million in cash. Superior Cake Products is a manufacturer of sweet goods, including eclairs, madeleines, brownies and cookies that are sold under the Superior on Main brand.
“This acquisition accelerates Sara Lee Frozen Bakery’s strategic goal of expanding our presence in the high-growth in-store bakery category,” says Craig Bahner, chief executive officer of Sara Lee Frozen Bakery. “Along with our new colleagues at Superior, we will continue to innovate and deliver irresistible foods that meet retail customer and consumer demands for premium, ‘worth it’ indulgences.”
Hostess Brands acquired Superior Cake Products in 2016 for approximately $51 million. Superior Cake Products has a specialty bakery located in Southbridge, Mass., where the company processes cookies, brownies and french pastries.
“Superior has been a high performing business and we believe that it will continue to thrive in Sara Lee Frozen Bakery’s portfolio as we focus our future investments on areas of our business that better leverage our core competencies and pillars for growth,” says Andrew P. Callahan, president and chief executive officer of Hostess Brands.
For the 12 months ended, April 30, Superior Cake Products had sales of approximately $43 million, according to Hostess Brands.