- Hostess announced Wednesday that it has picked a joint offer of $410 million from Dean Metropoulos & Co. and Apollo Global Management as its leading Twinkies bid.
- The company is currently in bankruptcy and is expected to seek out competing offers before a judge would need to approve the sale.
- Other announced lead bidders Hostess brands have included United States Bakery Inc. and Flowers Foods Inc.
From the article:
"... The offer sets the stage for the return of Twinkies and other Hostess cakes to supermarket shelves under new management, which could mean stepped up marketing for the spongy yellow cakes with mysterious cream filling. Although supermarkets saw a run on Twinkies when news hit in November that Hostess was going out of business, the company's sales had been declining amid changing tastes and a lack of investment in marketing. ..."