Hostess Sells Twinkies Brand to Investment Firms [View all]
Source: New York Times
BY MICHAEL J. DE LA MERCED
8:53 p.m. | Updated
Twinkies and Ding Dongs are back from the dead.
Hostess Brands, the now bankrupt owner of the cream-filled confections, agreed on Tuesday to sell the snacks — along with Ho Hos, Sno Balls and Dolly Madison Zingers — to two investment firms with a shared history of corporate turnarounds.
The deal, worth $410 million, was struck nearly four months after the last Twinkie rolled off the baking lines.
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The new owners will be Apollo Global Management and Metropoulos & Company, which owns Pabst Blue Ribbon and Vlasic pickles. C. Dean Metropoulos, the food industry veteran who leads the firm that bears his name, is expected to become the chief executive of the snack business.
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Read more: http://dealbook.nytimes.com/2013/03/12/hostess-picks-apollo-led-group-as-new-owner-of-twinkies/
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