Just in time for Christmas, Twinkies are back in action!
After practically mortifying customers with news that Hostess Brands Inc. is going bankrupt and that their products including Twinkies would no longer be on the shelves the company has revealed some very good news in bankruptcy court on Friday. Hostess revealed it is narrowing down the bids it received for its brand and plans to sell off it's snack cakes and bread to separate buyers.
Huffington Post reports:
A likely suitor has emerged for the namesake Hostess brand, which includes Twinkies, Ding Dongs and Ho Hos, along with Dolly Madison cakes, which includes Coffee Cakes and Zingers, said Joshua Scherer of Perella Weinberg Partners. He said another viable bid was made for Drake's cakes, which includes Devil Dogs, Funny Bones and Yodels. That bidder also wants to buy the Drake's plant in Wayne, N.J., which Scherer said is the country's only kosher bakery plant.
Additional bids have been submitted for its bread brands, which include Wonder and Home Pride. Hostess expects to file binding "stalking horse" bids for many of its brands in January. Those filings would be followed by a four-week auction process to allow competing bids. Scherer said the auctions could be very active for some of the brands, given the number of parties that have expressed interest. Sales could be completed by as early as mid-March.
Yay! Twinkies, Wonder Bread and Devil Dogs are likely to return to shelves in just a matter of months.
SOURCE: Huffington Post