Hostess’ Twinkies and other desserts may be back on the shelves in no time.
According to Reuters, private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co are on the verge of buying the Hostess brands Twinkies and Donettes.
The entire country mourned the death of the Twinkie last November when Hostess announced it was closing its doors, but now there is hope that we can still stuff our faces with the delicious treat without paying $5,000 on EBay.
But bringing back one of America’s all-time favorite snacks comes with a hefty price. The deal will cost the businesses close to $400 million.
Twinkies and Donettes aren’t the only Hostess product on the table. Hostess Cupcakes and Dolly Madison bread could also be a part of the deal, if the baseline bid from the two firms isn’t outbid at auction.
Earlier this month, Hostess also accepted a baseline bid of $390 million from Flower Foods’ to buy the rights and recipe for Wonder Bread. Like Apollo and Dean Metropoulos, Flower Foods’ bid could also be topped at auction.
Looks like everyone wants a bite out of the brand.
After a nationwide strike forced Hostess to shut down its operations last November, the 82-year-old company declared bankruptcy and began liquidating its assets. But thanks to demand for the product since Hostess closed its doors, Twinkies might not be dead after all. Hooray!