The transaction, which has been unanimously approved by the Hostess board of directors, is set to close in early January 2020.

This year's Best in Show award went to Hostess for Bakery Petites Double Chocolate Cake Delights, made with real chocolate and without high fructose corn syrup and artificial colors and flavors.

Earlier this week, Sioux City, Iowa-based Palmer Candy Co. issued a limited recall of certain chocolate products after being informed by Valley Milk Products, a Maryland-based cooperative, that the milk powder used in a compound chocolate coating supplied by Blommer Chocolate Co. to Palmer Candy Co. has the potential to be contaminated with Salmonella.