Love's Bakery, the state's largest supplier of bread and baked products, will be acquired by its local management. Japan-based First Baking Co. agreed to sell the 157-year-old company to a team headed by Daiichiya-Love's Bakery president Mike Walters. Terms of the deal were not disclosed. The sale is expected to close in 60 days and Love's said all 349 of its workers will be retained. "It's back to local management," Walters said by telephone yesterday. "This agreement will preserve the jobs of our 349 employees and our ability to produce freshly baked bread right here in Hawai'i." Founded in 1851, the company's brands include Love's, Wonder Bread, Roman Meal, Hostess and Svenhard's Pastries. Love's distributes about 400,000 loaves of bread each week. The buyers said they plan to beef up the company's Middle Street plant by...
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