Twinkies Should Return to Shelves by Summer
Hostess set to accept $410M offer for its cake brands
By Matt Cantor, Newser User
Posted Mar 13, 2013 6:30 AM CDT
Twinkies baked goods are displayed for sale at the Hostess Brands' bakery in Denver, Colo.   (AP Photo/Brennan Linsley, File)

(Newser) – Looks like Twinkies have a new owner—and if all goes according to plan, the classic snack could be back in stores within months. Hostess has canceled today's auction for its brands and facilities and will sell them to Apollo Global Management and Metropoulos & Co., investment firms that bid $410 million. As of Monday's bidding deadline, it was the only qualified offer, the New York Times reports. Now the companies, which the Times describes as having "a shared history of corporate turnarounds," await court approval; a hearing is due March 19. As for what this turnaround could look like, the would-be owners gave a few hints: Twinkies in more stores, 100-calorie options, and Zach Galifianakis as potential spokesman.

"We would hope to have this wonder product back on the shelf by early this summer," says a spokesman for Metropoulos, which owns Pabst Blue Ribbon and Vlasic pickles and whose head, C. Dean Metropolous, is poised to be the new CEO for the snacks. Alongside Twinkies rights, the auction included Ho Hos, Ding Dongs, and the rest of its cake brands. Some of Hostess' more savory brands could also learn their fate at the hearing, the Wall Street Journal reports. Mexico's Grupo Bimbo is seeking to purchase Beefsteak rye bread for some $31.9 million, while Flowers Foods—makers of Tastykake—bid $360 million for a range of other bread brands.

More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
Twinkies Should Return to Shelves by Summer is...
Show results without voting
You Might Like
Showing 3 of 21 comments
Mar 14, 2013 2:46 PM CDT
Well thank GOD, I've lost 20 pounds!
Mar 14, 2013 3:57 AM CDT
Defense lawyers across the country jumped for joy!
Mar 13, 2013 6:15 PM CDT
Hostess could not make money selling Twinkies so they sold out. Lets see if the new owners can do any better.