In a decision, the bankruptcy court judge decided that the Hostess Brand would be allowed to be sold to prospective buyers. As a result, the iconic Twinkies, Ding Dongs and Wonder Bread would soon make a return to store shelves.
Among those awaiting this advice are private equity firms Apollo Global Management and Metropoulos & Co, who has offered US$410 million for Ding Dongs, Donnettes, Ho-Hos and Twinkies. For the Wonder and Nature's Pride brands, Flowers Food Inc is being purchased for US$360 million. Grupo Bimbo SAB de CV has already bought the Beefstake bread for US$31.9 million. US Bakery has agreed to pay US$30.9 million for Eddy's, Standish Farms and Grandma Emilie's bread brands.
Last year, the Hostess Co sought Chapter 11 protection but did not seek removal from such protection even after the plan has been put in place. The company blamed the baker's union strike as the cause for its continued financial woes.
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