Twinkies and other Hostess snacks could be back on shelves by this summer after a successful $410 million bid for the business.
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."
Read - Twinkies due on shelves by summer as $410 million bid OK'd
iReport: The Devil Dog is in the details
Stay gold, Twinkie the Kid. Stay gold.
Take my snack cakes? Over my blinded, bloated body!
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Union lovers confuse me. If any one of these union thugs were fortunate enough to rise to power on their own and start their own business, they would see how ridiculous union demands on companies are. Businesses are in business to make profit. They should have to answer to employees, and if its through a reasonable union, thats fine, but these unions sit there and pontificate how the companies should be run so their laborers get "their fair share". What company would not tell these loons to take a hike and stay out of their affairs? These so called unions for the workers are the same ones who force union dues on workers and then waste it in the same manner they accuse businesses of doing. Hypocrites.
I was absolutely disgusted and sickened by how the Hostess executives treated their employees...demanding concessions from low wage workers while the execs showered themselves with bonuses. Then blamed the workers, who had already been robbed, for the company's failure. It was truly shameful and evil.
No it wasn't! Their snacks are DELICIOUS. Have you ever even TASTED a Zinger or a Cupcake or a Twinkie?!
I think you are missing the whole point on why they went out of business. They were broke. Half was probably due to company mismanagement, and the other half was due to ridiculously high wages for assembly line workers. There is no way to get back the waste the company already mismanaged, and the only way to fix what you can is to adjust the wages of employees to try to start turning profit again so the company can keep them employed. Sadly, unions always seem to forget that sometimes companies fail because of their policies. Employees cant be fired for being deadbeats, and the guy working next to you on the line who goofs off all day makes the same amount as the worker who busts his rearend. Hopefully this all ends up in a positive outcome creating new jobs, but we shall see. The job stifler in chief will continue to tax new businesses to death, so its hard to tell if they can prosper.
Another American company sold to an international company. Very, very sad.
Why would you assume they are international? Because one has Global in the name and the other is Greek?
Do some research. All the managing partners of both firms are either US citizens or have been here for years.
You may not be aware, but you can have a funny-sounding last name and still be American.
Scott, you said "Obummer" instead of Obama. That is SO funny. I have NEVER heard any one call our President "Obummer". How did YOU ever think of that???? You must be the smartest guy in the world. Obummer, wow, that is so clever. I bet you got straight A's in school and can do advanced trig and physics in your head....without even using a pencil! Obummer..... man, I am SO impressed. Obummer, it just sounds good to say it. You should write a song called "Obummer is Dumber" or "Obummer in the Summer". I know YOU can come up with a much better rhyme than I can! I think they should start a church, "The First Church of Obummer" and make YOU the pastor. Then you could preach about his birth certificate and how he is a Muslim and a Socialist, and did cocaine when he young, and used to smoke cigarettes. I need to go take an Advil and lay down for 20 minutes. Your brilliance has made my head hurt because I'm trying so hard to think of ANYTHING more clever than "Obummer"
What an idiot.
No need to be a dumb-ass. We all understand you are offended by someone calling our dumb-ass president what he is, but no need to get so upset.
Our dumb-ass president? Buy a calendar Caleb, Bush hasn't been president for years!!
The thing is, even if you don't respect Obama, you should still be polite to him. There is a level of decency that is socially correct, as you wouldn't treat a stranger like trash without knowing him. As Obama is the president of the United States, I personally respect him, even if I don't agree with his policies. However, if people were a little more polite, the world would run just a little more smoothly.
You were probably first in line at the Bush bash. Remember Bush was hitler, the anti christ and dumber than dirt? Get over it...Obummer is dumber and he deserves the rhetoric. Personally I respect the presidency, but this man has brought disrespect to the office and still blames Bush for his problems. He deserves his labels because he brings them on himself.
Deep fried Twinkies, yum.
In other news.............the original owners of Twinkies made a first quarter FY13 killing because of the shortage scare...............That's going out in style................
TASTYCAKES! TIME TO INVADE THE WEST FULL FORCE!!!!
Snack Cake WARS! Bring it on - East Coasters love Tastykakes! I moved west, now they need to come out here.
Who cares about the Twinkies, I want my Wonder bread back!
no one cares about wonder bread....twinkies rock!!!!!!!!!!!
We agree. Wonderbread, we discovered in conversations is a teacher's memory, a child's memory, and when it is sold and put back on the shelves, hopefully it will come with coupons and recipes for the play dough, and video to remind us all of those days of mixing Wonderbread and white glue and making maps of our own States, and The United States and learning about each of the States in a way that was a lot more fun. Today, I think young people learning about each State, and their own State need to also learn about problems in each state and the good things people can do to remedy those problems.
We used to take busloads of children and teens to beach clean ups. They raised the money and took parents. They were really surprised at the huge pile of blue bags that were cigarette butts only that had come down the sewer systems and washed back on to the beach after being dumped by cities in the out at sea dump areas. It let us talk about litter and how we can just use the trash can, and look for ways to recycle, reuse, and reduce trash as an everyday part of being good citizens of the earth.
The whole idea behind the bankruptcy was to dump the worker's union. Typical fascist rich ploy.
Isn't it great how the bakers union set that up for the facists?
Seriously, the union forces a company into bankrupcy, and these people blame the company. While facsism is indeed on the rise in america... a lot of unions are themselves fascist. Most exist for the sole purpose of perpetuating their own existance decades after reforms made them obsolete.
The fascist cupcake union and the lollipop guild. It's a conspuracy by obumer Muhahahahahaha!!!!!!!!!!
Oh poor little Amy, believing in the bible and FOX news.
You're a moron.
your comment is called "begging the question" a logical fallacy, it's all the fallacy of emotionalism, trying to base a claim as true based on your faith and feelings, which makes you the true hypocrite, look up eternian and bible evidence on google mr "me no heard of search engines befores" u willfully ignorant mor0n
I do not think that was the WHOLE idea. I do agree that we need a better system. SAG demanding more money put many, many, many studios and support companies out of business. Unions used to be for the people they represented, but I think Unions have become as self centered and paperwork overloaded as HMO's, the government, and most other "agencies".
I wrote a dissertation or five on this subject for my PhD, but was not allowed to use it because my mentor said it was "anti-government" it was not, it merely suggested that any agency (unions included) should do what it is intended to do, rather than build huge bureaucracies that are paid for by mandatory money and do not really serve those they are paid to represent. A friend was fired after she said she would sue a school district where she was assaulted by two students that she had said did not belong in regular school, they did not, one was seriously brain injured and needed to be in a program to help him be his best, the other was just a thug with a Mom who allowed it, so she had a reason to raise hell with the school. The Union "provided" her with a lawyer, at a cost of 50% of her settlement, and also that did a poor job of representing her. When the case was closed, a year later the district took her to try and take her credential away, claiming one of the teens said she had attacked him. She was 63, with a disabled arm. He was bigger and attacked her from behind with no warning. The police, on another case where he had assaulted someone, sent her regular notices to make sure he did not get out on probation, asking her to testify against him. THEY had no record of him having claimed her doing anything to "deserve" the assault which left her permanently injured. She is still going through surgeries since worker's comp works so slowly! Where is the Union? For over $70,000 in union dues for just that one job, not to mention from 33 years of dues before from other districts.
I think the unions had their time and place in American culture. They only seem to inspire laziness and incompetence in people now. Want proof? Take a look at the Post Office or the big 3.
I want a chocolate one.
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PHEW! Almost had a heart attack that these heart attacks were going to be GONE forever!
Don't worry. You can have a heart attack even sooner now that they're back.
A bad day for American waste-lines. Mayor Bloomberg's call to sanity is overruled by the judiciary, and Twinkies will once again grace America's lunchboxes and posteriors. The sad expose of the junk food industry in March 3rd's New York Times magazine will not be read by the target market of junk-food consumers. It should be re-printed in the National Enquirer, The New York Post, and on buckets of Kentucky Fried...
Sanity? He is an idiot. He's a chauffeured out of touch idiot guarded by armed bodyguards. He's a pompous jerk who pointed at the rulebook when Guliani wanted to get reelected then changed the rules to get another term for himself. If he had any b*||& he'd put his billions where his mouth is. Fight the booze issues, the traffic issues and the fact it costs $15 to get over a bridge in the city. He has bigger issues than big gulps.
Maybe he should be fighting for better education.
"Waist lines," unless you meant some bad pun that only an elitist such as yourself will understand. I love your logic, by the way. No big sodas equals New York magically thin. Yeah.....that's how it'll work!
410 Million? That'll buy alot of Twinkies...Haters will hate but I love my Twinkies.
I've been hoarding the lack of twinkies. No change of plans as of yet.
Step one will be to form several unions to ensure the new owner enjoys the same degree of success that Hostess did...
Truth so the fact that the executives gave them self's raises and multi-million dollar bonuses could not had helped.
If you had read the unions and members had made concessions to help keep the company afloat.
The cause of Hostess downfall was not unions but greed and miss-management on the part of the executives.
Since the top 10% control the media it will always be easiest to blame the unions. The top 10 dont like the fact that someone is looking out for the middle class just like their high power attorneys are looking out for them.
Yes looking out for the middle class like Obama does. Get real. It is time for the middle class to look out for them selves. Unions and Govt. are not the answer.
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