Twinkies, Wonder Bread and Ding Dongs could soon return to store shelves, after a bankruptcy judge yesterday approved the sale of several of the iconic brands once owned by Hostess Brands Inc.
Apollo Global Management and Metropoulos & Co, joined forces paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes, according to news reports.
Most of Hostess’s bread business, including its Wonder and Nature’s Pride brands were purchased by Flowers Food Inc., for $360 million.
Hostess filed for bankruptcy in 2012, putting the blame on a strike by its bakers union for its failure to emerge from Chapter 11 bankruptcy last November.
While the company was quick to blame the bakers union for its downfall, little was said about the tripling of the CEO’s pay and the increase in compensation of other executives by as much as 80 percent, as Hostess was filing for bankruptcy.
