Twinkies Coming Back This Summer
Twinkies, Ho Ho's and all the other famous Hostess Bakeries snacks seemingly lost to the ages could be back on the store shelves by this summer after a joint bid by two private companies won the rights to the products by default.
The $410 million dollar offer by Apollo Global Management and Metropoulos was the winning bid because there were no other offers. An auction of the company in part or in whole was set to begin on Thursday, but because there was only one qualified bid for entire company the bankruptcy court accepted it.
That's probably a bargain because the company was viewed as worth more, but more importantly it will may allow many of the 18,500 who lost their jobs at Hostess to start working again. They'll likely have to accept a much lower salary with the new owners though.