Twinkies will be making a comeback. Apollo Global Management, LLC and Metropoulos & Co. have agreed to purchase Hostess and Dolly Madison. The firms will be buying the brands, five bakeries and some equipment for $410 million.
Stores were bare of the cake brands since November when the company declared bankruptcy and closed its plants. Around 18,500 workers were left without a job and many Americans were left to live without these iconic snacks.
Before the brands are in stores again the transaction needs US Bankruptcy court approval; the hearing will be on March 19. ‘“We are very pleased to have the opportunity to bring back ‘America’s favorite snack’. Apollo and I are proud to be associated with such an outstanding set of brands. This transaction will ensure the beloved Hostess snack cakes can continue to be enjoyed for years to come. We look forward to returning the iconic Hostess products, including Twinkies, Ding Dongs, and HoHos, to consumers as soon as possible.” Dean Metropoulos, founder and CEO of Metropoulos & Co., said in a statement.’
The cake brand lovers will soon be able to rejoice. (abcnews.com)