A Bunch Of Hostess Brands May Have Just Been Saved

Roadsidepictures via FlickrTwo bidders just offered to buy divisions of Hostess, the famous baked goods chain that's going through bankruptcy.

McKee Foods, which is best-known for Little Debbie cakes, offered to pay $27.5 million for Hostess' Drake brand. That includes Ring Dings, Yodels and Devil Dogs products, according to the Associated Press.

United States Bakery made a $28.9 million bid for the Sweetheart, Eddy's, Standish Farms and Grandma Emilie's brands, Bloomberg reported.

But that doesn't mean the brands are safe just yet.

"The ‘stalking horse' bid by McKee would set the floor for an auction process that lets competitors make better offers," the AP wrote. A judge will have to approve the final sale.

The fate of Twinkies, Hostess' most famous product, is still up in the air as bidders duke it out, according to the AP.

Hostess shut down business late last year as it struggled through Chapter 11 bankruptcy and a baker's strike.

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