Posted on 03/19/2013 2:47:53 PM PDT by EXCH54FE
Reuters) - Twinkies, Ding Dongs and Wonder Bread may soon be back in stores after a bankruptcy court judge on Tuesday approved sales of several iconic brands that had been owned by the failed Hostess Brands Inc.
Buyout firms Apollo Global Management and Metropoulos & Co teamed up for Hostess's snack cake brands, paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes.
Flowers Food Inc, which makes Tastykakes snacks, picked up most of Hostess's bread business, including its Wonder and Nature's Pride brands for $360 million. The No. 2 U.S. baking company also bought 20 bakeries and other operations.
The Beefsteak brand of bread was sold for $31.9 million to Mexico's Grupo Bimbo S.A.B. de C.V., the world's largest bread maker. Bimbo already owns Entenmann's cakes, Arnold bread and Thomas' English Muffins.
Hostess also said on Tuesday that United States Bakery had the winning bid in the March 15 auction for its remaining bread brands: Eddy's, Standish Farms and Grandma Emilie's. United States Bakery agreed to pay $30.9 million.
Hostess filed for bankruptcy last year and gave up on its plans to emerge from bankruptcy in November, blaming a strike by its bakers union for its failure to emerge from Chapter 11.
The bakers union said in a statement on Tuesday its members would be "indispensable partners" in restarting the former Hostess facilities and getting the products back into stores.
(Excerpt) Read more at reuters.com ...
FRUIT PIES!!!!
What about the FRUIT PIES?!?!?!?!
Tastykake has taken advantage of the situation. They have come out with the Dreamies, an exact copy of Twinkies.
Nice to see that the noble “workers” of the baker’s goonion, the ones that drove the bakery into the dirt a few months back, will play a key role in the new enterprise. Nothing like a little regress to keep things on the level.
That is hopeful.
Yet, I remember when Miller bought out Lowenbrau (a great German beer), they swore over and over again that the 100s year old recipe was not changed.....the beer tasted just like Miller.
Will this happen to Twinkies?
(No, I do not mean taste like Miller)
The commie business killers make their move.
Excellent question!
I am not sure what they put in them but I have bought them and not even been hungry at times. Needed a backup snack for those long afternoons.
Oh good, we’re getting our Twinkie Hostess with Ding Dongs back.....yeay!
Forget Hostess. Little Debbie can kick her arse.
They would be nuts to reopen the same facilities and rehire the same workers.
Since Jan 11, 2013
Welcome to Free Republic.
No way. Little Debbie stinks.
Little Debbie Oatmeal Cakes are awesome.
“Little Debbie stinks.”
Agree. They are horrible. The safeway knock-offs of Hostess cakes are also disgusting.
I hope the winners of these assets got the recipes as well.
Little Debbie What’s-her-name Schultz? Yeah she does stink!
Little Debbie makes great brownies
I never had those, but LD’s other products are second rate at best.
“The bakers union said in a statement on Tuesday its members would be “indispensable partners” in restarting the former Hostess facilities and getting the products back into stores.”
I actually laughed out loud when I read this last bit. Comedy Gold, that right there.
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