Twinkies due on shelves as $410 million bid OK'd

http://money.cnn.com ^ | 03-12-2013 | Staff

[Red Badger]

The winning bid is a joint venture by private equity firms Apollo Global Management (APO) and Metropoulos & Co. A statement from Dean Metropoulos, founder of one of the firms, confirmed they are the winning bidder.

"Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment," said Metropoulos. "We look forward to having America's favorite snacks back on the shelf by this summer. We are also ecstatic to bring jobs back to many cities across the country."

The bankruptcy court had been set to have an auction among qualified bidders on Thursday, but Hostess notified the court late Monday that no other qualified bids had been submitted. That means the $410 million bid wins by default with no further approval of the court being required.

[dfwgator]

My fellow Americans, our long national nightmare is over.

[Red Badger]

However, Bloomberg will want to ban them.........

[COBOL2Java]

Union thugs lining up for their share of the twinkie?

[Red Badger]

But while Hostess is out of business, and most of its 18,500 employees have lost their jobs, the company has been auctioning off its various brands as part of the liquidation process.

They may be out of luck........

[Buckeye McFrog]

No matter, their union will hire homeless guys at minimum wage, no benes to picket every store that stocks these scab Twinkies.

[rktman]

With any luck, hard working NON-union folks will get first crack at the jobs. No point in restarting if the union get to have their say. Of course if the doj has to approve the sail that may be one of the caveats. Union pukes get first dibs on the jobs. DIIIISSSSSSgusting. (Not the Yellow Zingers of course!)

[Slump Tester]

What about “Nature’s Pride” bread? I loved it, and it disappeared as a result of Hostess going out of business.

[vpintheak]

Do they have to hire the union thugs back? If they do, they are so toast.

[dalereed]

i don;’t give a damn because I have no idea what a twinkie is except it made some queer murder a guy in San Francisco.

[dfwgator]

[perfect stranger]

Debbie rolled this out quick.

[Red Badger]

Gotta iron while the strike is hot!.............

[Red Badger]

No, it was a guy that murdered some queer in Sand Fransicko.......

[Red Badger]

From the article: Flowers Foods (FLO) won most of Hostess' bread business on Feb. 28 with a $360 million bid that included the Wonder, Nature's Pride, Merita, Home Pride and Butternut bread brands, as well as 20 bakeries.

[ken5050]

With no other bidders..they bid too much. Just watch them scramble to find a reason to pull the bid, then come in about $50-$75 mill LESS

[Robe]

he article said “Flowers Foods (FLO) won most of Hostess’ bread business on Feb. 28 with a $360 million bid that included the Wonder, Nature's Pride, Merita, Home Pride and Butternut bread brands, as well as 20 bakeries.”
So you may be in luck, and they just didn't include the name .....
I glad to see “ Merita and Wonder Bread “ coming back, I haven't had a decent PBJ since they went belly up

[Jack Hammer]

Praise be!

[Republican Wildcat]

They’ve actually had those for many, many years (previously they just generically called them “Golden Cremes” and a few years ago renamed them “Cloud Cakes”)...however, you started seeing them being stocked in more stores where they weren’t being carried before to take the place of Twinkies.

I personally don’t think too many people missed Hostess as they soon realized so many other similar snacks were available from other companies.