Conclave? Smoke? Pfft. Here’s big news!
Buyout firms Apollo Global Management, LLC and Metropoulos & Co. have agreed to purchase the Hostess and Dolly Madison cake brands, including Twinkies. The iconic snacks have been off the market since Hostess closed its plants in November and declared bankruptcy after its unions went on strike.
The proposed transaction includes the brands, five bakeries, and certain equipment for $410 million. The transaction requires US Bankruptcy Court approval. A hearing to consider approval of the sale will take place on March 19. [The Feast of St. Joseph, when by custom Romans eat special pastries in honor of the saint.]
There’s more, for you Ho Ho fans. Read it there.
I was sort of hoping that the Mexican company would buy this up. Think of it… Bimbo Twinkies. It kinda keeps the “hostess” theme going.
I didn’t like Twinkies when we could buy them. When I couldn’t buy them… that’s when I wanted to. Not to eat, of course… but to store up against TEOTWAWKI.