Flowers Foods has completed its $355 million acquisition of several breads, bakeries and other assets from the Dallas-based company previously known as Hostess.
Countdown clocks continue to tick towards the return of the Twinkie! And though it’s hard to imagine it’s even possible, when the yellow, cream-filled, spongy cakes return to store shelves next week they’ll have an even longer shelf life.
Hostess Brands LLC said Monday that it will open bakeries in Indiana and Illinois, following announcements last week that it will reopen two bakeries in its effort to bring back some of its snack brands.
Twinkies will be winging their way back to a store near you, likely in July. Hostess Brands, LLC has announced plans to re-launch its bakery in Columbus and plans to add about 300 jobs in the area over the next several years.
Tomorrow is the first day of Spring and thanks to a court ruling today, Twinkies could be back on store shelves by Summer and you have the owners of Pabst Blue Ribbon Beer to partially thank!
Hostess previously picked Flowers Foods as the buyer for Wonder and other major bread brands; no competing offers were made in that case either. The sale of the breads and Twinkies still need to be approved in bankruptcy court on March 19.
Hostess says the lead bidders for the snack-cake business are offering more than $400 million.
The indestructible Twinkie appears to be one step closer to a comeback. Hostess Brands is close to announcing that it has picked two investment firms as the lead bidders for its Twinkies and other snack cakes.
The pension fund for a Hostess Brands union has hired an investment bank to represent workers and pensioners as the maker of Twinkies and Wonder Bread sells off its brands.
Hostess says it is selling most of its bread business, including the Wonder and Nature’s Pride brands, to Flowers Foods Inc. for $390 million.
A newspaper is reporting that Flowers Foods and Bimbo are emerging as bidders for the bread brands of Hostess, which in the midst of a bankruptcy court liquidation of its assets.
Twinkies, Wonder Bread and Devil Dogs are likely to return to shelves in coming months, but probably not under the same owners. Hostess Brands Inc. said in bankruptcy court Friday that it’s narrowing down the bids it received.