Continental Baking Company

Continental Baking, original maker of Wonder Bread and Hostess cakes, was absorbed through conglomerate mergers. ITT acquired Continental in 1968; Ralston Purina bought it from ITT; Interstate Bakeries (later Hostess) acquired the brands. Each transaction extracted value while adding complexity. The brands Continental created outlived the company by decades. Continental demonstrated that iconic brands can be passed through corporate shells indefinitely.