Snack lovers went into a slight panic when Hostess went out of business last year, because that meant no more Twinkies. To me, it meant no more Merita bread, and I still haven't adjusted. But fear no more, Twinkies will return July 15th!
Metropoulos & Co. and Apollo bought Twinkies and other Hostess cakes for $410 million.
Apollo
Global Management, founded by Leon Black, is known for buying troubled
brands then selling them for a profit; its investments include fast-food
chains Carl's Jr. and Hardee's. Metropoulos & Co., which has
revamped then sold off brands including Chef Boyardee and Bumble Bee,
also owns Pabst Brewing Co.
***
The trimmed-down Hostess
Brands LLC has a far less costly operating structure than the
predecessor company. Some of the previous workers were hired back, but
they're no longer unionized.
When Twinkies return,
they will cost $3.99 for a box of ten. Other Hostess products, such as
Wonder Bread, were bought by different companies.
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