Could Wonder Bread be a Match for Sara Lee?

The demise of Wonder Bread could be a boon for Sara Lee.

Sara Lee Corp. CEO Brenda Barnes is hunting for acquisitions, and Interstate Bakeries Corp., the maker of Wonder, as well as Hostess cupcakes and Twinkies, could be a fix for her sagging bread business.

Since Ms. Barnes said last month she is ready to do deals, industry analysts have zeroed in on potential targets: Oscar Mayer meats, Folgers coffee and Interstate's bread and snack-cake brands. Interstate, which is trying to reorganize in Bankruptcy Court, appears the most plausible near-term option because of its availability and strategic fit with Sara Lee. The company is seeking a buyer for all or parts of its business.

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