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Rabin Worldwide Inc., an industrial auction company, and Capital Recovery Group, an industrial auction and appraisal firm, will conduct multiple auctions for the remaining assets of former Hostess factories on behalf of Hackman Capital Partners.
A series of factory auctions are slated to take place both online and live over the next three months, starting Oct. 30 in Los Angeles. The rest of the auctions will be held in St. Louis, Cincinnati, Oakland and Philadelphia.
After Hostess Brands ceased operations in November 2012, many of its brands and factories, including Twinkies and Wonder Bread, were quickly sold to competitive producers. Hostess later won court approval to sell the rest of its assets at auction, and Los Angeles-based Hackman bought the remaining real estate, bakery equipment and fleet assets, located across 34 states.
As well as seven complete Hostess factories that produced Twinkies, Cupcakes and Wonder Bread, the auction will include more than 3,000 trucks and trailers at 90-plus additional locations. Many of these trucks delivered Twinkies and other products from regional distribution centers to local convenience stores.
“The amount of interest in these auctions is unprecedented,” said Richard Reese, president of San Francisco-based Rabin Worldwide. “The nostalgia for Hostess Brands has attracted a lot of attention to the sales, and we hope it will strengthen bidding. Many of us boomers who had brown-bag lunches at school had our sandwiches made on Wonder Bread and our favorite Hostess treat for dessert.”
Rabin Worldwide and Enfield, Conn.-based Capital Recovery Group specialize in multiple-location liquidations across North America. Complete listings and auction schedules are available online.