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Reuters: Judge OKs Hostess’s Twinkies, Ding Dongs Sale

Date: Mar 20, 2013 @ 07:29 AM
Filed Under: Bankruptcy

Reuters reports that Twinkies, Ding Dongs and Wonder Bread may soon be back in stores after a bankruptcy court judge on Tuesday approved sales of several iconic brands that had been owned by the failed Hostess Brands, Inc. Buyout firms Apollo Global Management and Metropoulos & Co teamed up for Hostess’s snack cake brands, paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes.

Twinkies, Ding Dongs and Wonder Bread may soon be back in stores after a bankruptcy court judge on Tuesday approved sales of several iconic brands that had been owned by the failed Hostess Brands Inc.

Buyout firms Apollo Global Management and Metropoulos & Co teamed up for Hostess’s snack cake brands, paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes.
Flowers Food Inc, which makes Tastykakes snacks, picked up most of Hostess’s bread business, including its Wonder and Nature’s Pride brands for $360 million. The No. 2 U.S. baking company also bought 20 bakeries and other operations.

The Beefsteak brand of bread was sold for $31.9 million to Mexico’s Grupo Bimbo S.A.B. de C.V., the world’s largest bread maker. Bimbo already owns Entenmann’s cakes, Arnold bread and Thomas’ English Muffins.

Hostess also said on Mar. 19 that United States Bakery had the winning bid in the March 15 auction for its remaining bread brands: Eddy’s, Standish Farms and Grandma Emilie’s. United States Bakery agreed to pay $30.9 million.

Hostess will return to court on April 9 to ask U.S. Bankruptcy Court Judge Robert Drain to approve the sale to United States Bakery and a separate sale of its line of Drake’s snacks.

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