Exclusive: Sun Capital wants to buy Hostess By Dan Primack November 19, 2012: 12:43 PM ET 1 Email Print Hostess may have a buyer. FORTUNE -- Private equity firm Sun Capital Partners wants to buy bankrupt bakery Hostess Brands Inc., Fortune has learned.
The proposal would be to operate Hostess as a going concern, including reopening the shuttered factories and continuing union representation of Hostess workers.
Sun Capital privately expressed interest in acquiring Hostess earlier this year, but the bakery's creditors chose for an alternate reorganization plan that ultimately failed. Following Friday's liquidation, Sun reengaged by contacting Hostess advisor Perella Weinberg Partners. It also plans to contact the relevant labor unions.
"I think that we could offer a slightly better, more labor-friendly deal than what was on the table last week," says Sun co-CEO Marc Leder, in an interview with Fortune. "We also think that one point the unions have made is that there hasn't been a great amount of reinvestment in the business. We've found that investing new capital into companies like this can be very positive for brand, people and profitability... We would look to invest in newer, more modern, manufacturing assets that would enable the company to become more productive and to innovate.""
Bread ought to be made locally. Still need trucking to deliver the ingredients
Blake we have bakery's everywhere in my neck of the woods. A high quality butter crust white bread fresh that day is $1.99 here. way way better bread. For the difference I can treat myself to a donut or 2 that are fresh also.lol
I just realized how much i had missed Pwnzor while he was gone, hiring I see whats the mileage pay? Van Reefer or flat? have a friend that left us not too long ago thats looking.
$0.64 per loaded mile when outbound from Atlanta. 30% of back haul rate goes to the driver.
53' dry vans only. No hazmat. 99% no-touch, other than putting load bars in behind the pallets or occasionally using some straps.
RARE occasion, the shipper or receiver will slide you a pallet jack and let you figure it out. We charge extra for that.
EDIT:
MINIMUM 2 years OTR experience, must be an EXPERT with paper logs. Perfect driving record. Must have a TRUCKER'S GPS and up to date maps. Current physical paper trucker's atlas is a plus.
I'm not here to give directions. If you have been put out of service for HOS violations in the last 3 years, apply somewhere else.
By expert in paper logs do you mean running straight with one book or wiggly wiggly?
We're on digital here now, sealed truck unit stores up to 2 years of data & digicard (with your face on it) 6-12 months.
Even if the coppers have no idea what they're looking at all they have to do is plug in the laptop & beam the data to a regional centre for instant analysis. You must by law carry any driving records, be it log book, paper disc, or digital to cover the last 28 days & you're liable for anything within that 28 days that they can spot.
Wiggly wiggly bye bye!
Also what's HOS please? (& don't say a big animal with a leg at each corner which bites at one end & farts at the other);
Driving a day cab Mercedes Actros with a 45ft walking floor semi at the moment, bulk incinerable trash or woodchips mostly. Dirty work but the money's terrific, nearly $30/hr & I get home every night.
I don't drive a truck but... HOS = Hours of Service. (See, sit behind a desk all day in a hospital & suddenly you discover you know way more about esoteric crap that has NOTHING to do with your job than you have a right to)
Oh, I could be wrong though...!
Chris C
[Edited 'cause I can't speel correctly]
(Message edited by britchri10 on November 19, 2012)
We run electronic logs here too, but they aren't mandated... yet.
We require all drivers to run paper logs and we compare them to the e-logs. The satellite tracking system is not perfect, and sometimes I will get emails at 3am telling me a truck is going 186mph on a neighborhood street... when I know for a fact the truck is parked.
Anomalies exist, and so we log it the old fashioned way. There are a ton of lawsuits going right now regarding EOBR's (electronic on board recorders).
Pwnzor, got to love the "paperless" society. I know all to well about those electronic inaccuracies that happen. That's why you always have those paper backups to verify with.
That's a Euro TIR spec, 13.6m, 4 bay dropside tilt trailer.
I don't mean it tips or anything, a tilt trailer has a one piece fitted sheet on it that hangs on a demountable frame, held on with buckles & a steel cored cable that runs right around & can be sealed for customs purposes.
A bit "old hat" in western Europe as they're hard work & time consuming for single driver use, but cheap & easy to repair, still popular out east though.
This one evidently doesn't have ABS or it's not working.
Posted on Wednesday, November 21, 2012 - 07:57 pm:
In the States, we call them "curtain side" trailers.
I used to have a 22 foot straight truck with a Cramaro convertible bed. The whole thing slid forward and I had three rows of recessed D-rings in the floor so I could chain down loads front to back and side to side. Had an infra-red camera in the rear with a monitor so I could watch the load to make sure it didn't shift during transit.
30,000 pound capacity on that bad boy. The guy I sold it to is still driving it to this day.
Posted on Wednesday, November 21, 2012 - 08:51 pm:
Back when I was driving, we had another driver that would do that on purpose. Were young and he was good at it. One early morning the roads were wet and we were taking a load and a half of hardwood to a furniture maker. I was in a straight truck he was pulling a 40' trailer. Every time we turned from one road to another he would lock the trailer brakes and rotate the trailer like a latter truck, just less the rear driver. He was amazing.
Pwnzor, Curtain-sider has a fixed frame with top rails for the curtain to slide on, & usually doors at the back, like a soft sided box trailer. most common here these days is a Euro-Liner which is the same but has an sliding opening roof too.
The advantage of the Tilt is that it can all be knocked down into a flat trailer with no tools except a ladder & a couple of fit blokes & then reassembled. Bloody hard work though I can tell you & definitely no fun on a dark, wet, winters evening. damhik.
30,000 pound capacity on that bad boy. Not sure 30k qualifies it as a "bad boy" LOL. Things don't get fun till you are grossing 130k in a quad axle Pete with a 3 axle RGN with a steering rear air tag.... }
30k pounds is about as heavy as you can get on a straight truck.
My 378 wasn't a quad axle, but my 3 axle Trail King gooseneck could hold a few pounds. Most of the time though, it got used for wide loads that didn't weigh over 20k.
Not too heavy, I know... but 27 feet wide and 10 feet high. My record width is 38'6".
The Unions wont buy hostess they were offered Board seats and a stake in the company and turned it down. Union members are followers not leaders at any thing. At most a union is a symbiot in most cases its parasitic. They need others to do for them. The original Union organizers from the coal fields were leaders. The Samuel Gompers types are parasitic co-opting marxists A major difference.
Gregory F. Rayburn, a restructuring expert who took the helm at Hostess last month, said in an interview that the top four executives working under him had agreed to cut their annual salaries to $1 until the company emerges from bankruptcy or Dec. 31, whichever comes first.
Hearing more and more that this is a distribution issue. The bakers want to force a liquidation so the bakeries will survive under another company that isn't bogged down with ridiculous distribution rules.
This is why the teamster union was urging the baker's union to settle, and why the baker's aren't biting.
