Drake Bakeries, Inc.
On July 29, 1924, a new corporation was formed as Drake Bakeries, Incorporated.[39] Ralph Ward became president of the company. Ralph Ward was the grandson of the founder of Ward Baking Company, a major bakery enterprise founded in 1849 that went on to be Continental Baking and introduce the Hostess brand, develop competitive products like Twinkies,[40] and eventually after transitioning to Interstate Bakeries Corporation, own the Drake's brand in 1998, 74 years later,[41] after having made an unsuccessful attempt to gain the Drake's brand in 1986.[42]
The preferred shares of Drake Bakeries, Incorporated were owned by Bessemer Investment Company,[43] the investment arm of the Bessemer Trust which was founded in 1907 by Henry Phipps from proceeds from the sale of Carnegie Steel, which Phipps founded with Andrew Carnegie.[44] Newman E. Drake and other Drake family members, Ralph Ward and other Ward family investments, B. B. Vanderveer, and others were among the closely held group of common stockholders of Drake Bakeries.[43]
In 1925, Drake Bakeries advertised with full page ads a new freshness policy where they would remove products from store shelves after 48 hours. The ad also featured recipes for three Drake's products, highlighting to readers the wholesome ingredients used and how much easier it would be to buy the same product you would make at home from Drake. The ad also introduced the products in cartons, termed the "Fresh Cake" package.[45]
In 1925, Drake's began a series of collectable cards including two featuring Babe Ruth. These cards had brand information on the back.[46] Drake's baseball cards continued for decades.[47]
Also in 1925, work began on a new three story bakery in Irvington, New Jersey, near Newark.[48]
One of the top sellers for Drake's still today, Devil Dogs, was filed for trademark protection in 1926 and shown as first sold in commerce on June 15, 1926. The owner of the trademark was S. Gumpert Co., Inc. of Brooklyn.[49]
Yankee Doodles, a chocolate cupcake with creme filling and no icing, was first sold in interstate commerce in 1928 by the Yankee Cake Company of Providence, Rhode Island.[50] The firm built a bakery around that time at 24 Althea Street in Providence. In 1936, Drake's was running ads for Yankee Doodles under the Drake's brand.[51] Around 1937, Drake Bakeries was sharing the building with Yankee Cake Company and later became sole occupant.[52] The "Old Formula Book" of Drake Bakeries from the late 1930s to early 1940s references the Providence bakery.[53] The Yankee Cake Company was stated as a wholly owned subsidiary of Drake Bakeries in a 1941 article.[28]
On August 28, 1928, Drake Bakeries was purchased by acquisition of common stock by Central Distributors, Inc. Central Distributors was formed March 9, 1928, by Ralph Ward, his cousin, William Ward, and Benjamin Titman as a holding company for food companies. Drake common shareholders received shares in Central Distributors, Inc. Newman E. Drake and Ralph Ward were signatories of documents related to the purchase.[43]
Less than a year later, on August 8, 1929, The Borden Company purchased Central Distributors, Inc. for Borden stock, gaining control of Drake Bakeries, Inc. as it was a company held within Central Distributors, Inc. Ralph Ward became a vice president within The Borden Company in October 1931 while continuing to serve as President of Drake Bakeries, Inc. without interruption.[43]
In 1929, Drake begins advertising that the products are wrapped in cellophane, noting that shoppers could see what they were buying and that it was a "flavor-sealed" package.[54]
