The global bakery company Hostess Brands has opened a new, world-class Innovation Lab in Lenexa, Kansas, America, to support the Companys ongoing commitment to crowd-pleasing product innovation.
- The new innovation lab helps to understand consumer taste preferences and an upward shift in snacking behaviours of consumers.
- The Hostess Innovation Lab provides an inspirational testing center for Hostess Brands to develop new product prototypes, and then test those prototypes through custom-built sensory booths and a focus group room where consumer advocates are invited to participate in the process.
In December 2019, Hostess Brands, Inc. and Voortman Cookies Limited announced that they had executed an agreement under which Hostess will acquire Voortman, a leading and rapidly growing manufacturer of premium, branded wafers as well as sugar-free and specialty cookies, from Swander Pace Capital for approximately $320 million in cash, including a customary working capital adjustment, representing a post-synergy 9.1×1 EBITDA transaction multiple.
In September 2019, Hostess Brands, Inc. announced that it had entered into a definitive agreement to sell its Superior Cake Products, Inc. in-store bakery business to Sara Lee Frozen Bakery for a purchase price of $65 million in cash, subject to post-closing adjustments. The transaction is expected to close during the third quarter, subject to customary closing conditions.
About Hostess Brands, LLC
Hostess Brands, LLC, headquartered in Kansas City, Missouri, United States, is a leading bakery and snack products company. The packaged food company focused on developing, manufacturing, marketing, selling and distributing baked goods in the United States and Canada. The company offers a variety of new and classic treats in addition to Twinkies and CupCakes, including Donettes, Ding Dongs, Zingers, Danishes, Honey Buns and Coffee Cakes.