Interstate Bakeries has finally emerged from bankruptcy after operating under chapter 11 protection for more than four years. The company will be controlled by Ripplewood Holdings, the private equity firm invested $44.2 million in equity and another $85.8 million in convertible debt for a 50% stake. Debt financing for the deal was led by Silver Point Finance and General Electric Capital. Also participating in the financing was JP Morgan, the Quadrangle Group and McDonnell Investment Management.