Kyle West's Blog

Twinkies Are Coming Back!

Posted By: Kyle West http://www.hi99.com/airstaff/kyle.aspx · 3/12/2013 6:53:00 PM

If you missed the greasy, fluffy, and sweet yellow sponge cake with the delicious cream filling, here is great news for you!  Pending approval by a judge, Hostess has sold off their snack cake line to Apollo Global Management Group:

 

Hostess Brands Inc. said it would seek court approval to sell its Twinkies and other cake brands to Apollo Global Management LLC APO -0.42% and Metropoulos & Co. after no rival bidders challenged their $410 million offer.

In papers filed Monday with the U.S. Bankruptcy Court in White Plains, N.Y., Hostess said it would cancel the auction for such brands as Dolly Madison, Ho Hos and Ding Dongs, as well as five bakeries and some equipment.

Hostess's long-beloved cake brands had stirred interest among would-be buyers. Hurst Capital, a private-equity firm run by 26-year-old twins, was among those that competed with Apollo and Metropoulos for the chance to serve as lead bidder.

Evan Metropoulos, a member of the investment firm his father founded, said Tuesday he hopes to quickly return Twinkies and Hostess's other snacks to store shelves, where they have been missing since their maker went into liquidation.

"We would hope to have this wonder product back on the shelf by early this summer," he said.

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