87°
Baton Rouge, Louisiana
3 Day Outlook
Thu
93°
73°
20%
Fri
94°
73°
20%
Sat
97°
74°
60%

Latest Weather Blog

Follow our weather team on social media

Hostess set to announce bidder for Twinkies

2 years ago January 29, 2013 Jan 29, 2013 Tuesday, January 29 2013 Tuesday, January 29, 2013 10:30:17 AM CST in News
Source: Associated Press

NEW YORK- The indestructible Twinkie appears to be one step closer to a comeback.

Hostess Brands is close to announcing that it has picked two investment firms - C. Dean Metropoulos & Co. and Apollo Global Management - as the lead bidders for its Twinkies and other snack cakes, according to a source close to the situation.

The joint "stalking horse" bid would set the floor for an auction process that lets competitors make better offers. A judge would have to approve any final sale.

After years of management turmoil and turnover, Hostess declared it was going out of business and selling its brands in November.

Hostess has already picked separate lead bidders its Drake's cakes and breads, which include Wonder.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days