Kohlberg-backed Sara Lee Foods to acquire Superior Cake Products from Hostess for $65m.

Kohlberg-backed Sara Lee Frozen Bakery, a maker of frozen bakery and dessert products, agreed to acquire Superior Cake Products, a specialty cakes and baking products manufacturer, from Hostess Brands for $65m. "We are thrilled to add Superior to our portfolio of established and iconic brands. This acquisition accelerates Sara Lee Frozen Bakery’s strategic goal of expanding our presence in the high-growth in-store bakery category. Along with our new colleagues at Superior, we will continue to innovate and deliver irresistible foods that meet retail customer and consumer demands for premium, ‘worth it’ indulgences," Craig Bahner, Sara Lee Frozen Bakery Chief Executive Officer.