If you cried as you bit into what you thought would be your last Twinkie… worry no more. We won’t have to say goodbye forever to those delicious Twinkies and Ho Ho’s! Hostess Brands Inc. today announced that the Company has selected affiliates of Apollo Global Management, LLC and Metropoulos & Co. as the stalking horse bidder for the majority of the assets of the Company’s snack cake business, which includes both Hostess®and Dolly Madison® branded products, including the iconic Twinkies® brand.
Apollo and Metropoulos have agreed to pay $410 million to purchase the brands, 5 bakeries and certain equipment.
“Interest in these iconic brands has been intense and competitive and we expect that to continue through a robust, court-authorized auction process. The ultimate goal will be the same we have had since we began marketing all of our assets – to maximize value for all of the Company’s stakeholders and ensure these great products can be enjoyed by their loyal fans for many years to come,” said Hostess Brands Chairman and Chief Executive Officer Gregory F. Rayburn.
The cakes live on!