Flowers Foods, which last month offered $390 million for most of Hostess Brands’ bread business, on Thursday reported fourth-quarter earnings rose 67 percent as acquisitions and increased volume drove the company’s revenue growth.
Flowers is seeking to buy Hostess brands including Wonder Bread and Nature’s Pride, although the bid could later be topped in an auction as part of Hostess’s bankruptcy process. The deal, if successful, would include Hostess bread plants in Lenexa, Kan. and Boonville, Mo.
Flowers reported a profit of $38.6 million, or 28 cents a share, up from $23 million, or 17 cents, a year earlier. Revenue jumped 15 percent to $749.4 million.