Judge approves sale of Hostess Brands
Hostess Brands Twinkies are shown on November 16, 2012.
Photographer: Joe Raedle/Getty Images
Copyright Getty Images
Posted: 03/19/2013
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By: Associated Press
NEW YORK (AP) - A bankruptcy judge has approved the sale of Twinkies to a pair of investment firms.
Hostess Brands Inc. is selling the spongy yellow cakes, along with other snacks including Ding Dongs and Ho Hos, to Apollo Global Management and Metropoulos & Co. for $410 million.
Metropoulos, which owns Pabst beer, has said it hopes to have the cakes back on shelves by this summer.
The judge also approved the sale of Wonder and other breads to Flowers Foods, which makes Tastykakes. Flowers will also get Nature's Pride, Butternut, Home Pride and Merita as part of the $360 deal.
The sale of Beefsteak, a regional bread brand, to Grupo Bimbo for $31.9 million was also approved.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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