New owners hope to have Twinkies on U.S. store shelves by summer
A box of Hostess Twinkies is seen on the shelves at a Wonder Bread Hostess Bakery Outlet in Glendale, California, November 16, 2012. Hostess Brands Inc, the bankrupt maker of Twinkies and Wonder Bread, has sought court permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers. (Reuters/BRET HARTMAN)
NEW YORK - The new owner of Hostess Brands Inc’s snack cakes hopes to have Twinkies back on U.S. store shelves by this summer, according to a member of the purchasing group.
“Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment,” Daren Metropoulos, a principal at his family’s private equity firm, told Reuters in an email on Tuesday.
“We look forward to having America’s favourite snacks back on the shelf by this summer.”
Daren’s father, Dean Metropoulos, teamed up with Apollo Global Management to offer $410 million for Twinkies and other snack cakes. Their offer was to serve as the minimum offer for the business but no other bidders emerged.
News of their winning offer was revealed late on Monday in a court filing.