St Augustine’s fears calmed — Twinkies brand sold
The news came in to Historic City News last night from a bankruptcy court filing that, finally, we know the fate of the beleaguered spongy yellow cakes with mysterious cream filling; Twinkies are coming back to a grocery store near you, hopefully by this summer.
A purchasing group, made up of private equity firm C. Dean Metropoulos and Co, who own Pabst beer, and, Apollo Global Management, whose investments include the fast-food chains Carl’s Jr. and Hardee’s, established the “opening bid” for America’s favorite snacks.
“No other qualified offers were submitted by the bid deadline,” an attorney for Irving, Texas based Hostess Brands, Inc., announced Monday night from the U.S. Bankruptcy Court in White Plains, N.Y.
The group paid a reported $410 million for “Twinkies” and other Hostess Brands snack cakes which include Dolly Madison Cup Cakes, Ding Dongs and Ho Hos. The last shipment of Twinkies left Hostess plants for retail stores in December.
Category: Business
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