Hostess Brands Inc. customers are interested in buying the company’s brands and the baker of Twinkies and Wonder bread may generate about $1 billion from asset sales, a financial adviser said in court. The company has been “undervalued” for years and there is “very intense” comeptition for its brands, Joshua Scherer of Perella Weinberg Partners LP said today at a hearing in U.S. Bankruptcy Court in White Plains, New York. Hostess isn’t administratively insolvent, he said.

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