Burkle's Yucaipa Plans Bid For Makers Of Twinkies, Wonder Bread

Burkle's Yucaipa Plans Bid For Makers Of Twinkies, Wonder Bread

The International Brotherhood of Teamsters on Friday, Nov. 2, joined forces with Ronald Burkle's Yucaipa Cos. LLC and Bimbo Bakeries USA Inc. and have a plan for Yucaipa to buy bankrupt Interstate Bakeries Corp.

The trio didn't disclose a specific bid amount, though IBC characterized a $400 million exit financing commitment from Silver Point Finance LLC as a stalking-horse bid. Such verbiage, while a misnomer, shows that IBC views $400 million as a baseline for a bid. IBC, in fact, has requested an auction for alternative investment proposals to be held Dec. 13.

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