Twinkies' $400M Savior Is Near
Two private equity firms, including owner of Pabst Blue Ribbon, close to deal
By John Johnson, Newser Staff
Posted Jan 29, 2013 12:52 PM CST
A file photo of Hostess Twinkies, soon to have a new owner.   (AP Photo/Mark Lennihan, File)

(Newser) – Goodbye Hostess Twinkies, hello ... Apollo Twinkies? Or maybe PBR Twinkies? The Wall Street Journal reports that two private-equity companies—Apollo Global Management and C. Dean Metropoulos—are close to a deal worth more than $400 million to buy the brand from bankrupt Hostess. The bid would serve as the one to beat in an upcoming bankruptcy-court auction, and it now seems unlikely any other suitor would do so.

Metropoulos, Time notes, already owns Pabst Blue Ribbon. "Both are iconic legacy brands that were once very much in demand," writes Josh Sanburn. "PBR has been revived. Twinkies ain’t doing so well." Meanwhile, the AP reports that the maker of Little Debbie (McKee Foods) is the lead bidder for the Drake's brand, which includes Devil Dogs and Ring Dings. The offer is $27.5 million.

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Showing 3 of 6 comments
Jan 29, 2013 10:01 PM CST
You've got to sell one hell of a lot of Twinkies to make back the $400 Million investment.....
Jan 29, 2013 9:49 PM CST
Americans are fatter than ever and our kids are obese and have diabetes, maybe Twinkies should skip a generation. They really aren't that great tasting anyways....or am I totally off? They taste like chemicals to me.
Jan 29, 2013 7:33 PM CST
Hopefully they will reemerge less the union workers.