Everyone Stop Freaking Out! Twinkies Are Coming Back!
I called it! As soon as Hostess went belly up in November I started telling people that it would only be a matter of months before Twinkies (at the very least) got picked up by another company and hit shelves all over again. Well, $410 million later and a joint effort between Metropoulos & Co. and Apollo Global Management, and Twinkies should be back on the shelves by this summer.
Strangely though, the bid from Metropoulos & Co. and Apollo Global Management was the only bid at the auction for the cakes division of Hostess, which also includes Ho Hos and Ding Dongs. Originally, the Hostess CEO predicted the auction process over the beloved snack food to be a wild occasion, but the $410 million bid ended up being the only qualified bid.
A similar situation happened when Hostess cancelled its auction for its bread division, which includes Wonder Bread, after Flowers Foods, distributors for Nature’s Own bread, was the only qualifying bid.
Apollo Global Management declined comment, but the CEO and founder of Metropoulos & Co., Dean Metropoulos indicated that he would like to have “America’s favorite snacks” available to the public again by this summer.