Twinkies live again as Hostess sells off its snack cake brands
The bankrupt food company announced Wednesday (March 13) that a pair of private equity firms -- one of which, Metropoulos & Co., helped revive Pabst Blue Ribbon beer -- paid $410 million to acquire the Hostess snack cake business. The deal means Twinkies, Ho Hos, Ding Dongs and several other Hostess brands, which disappeared from shelves after Hostess, which declared bankruptcy early in 2012, shut down production in November.
The deal also includes five bakeries and equipment. Hostess will ask a bankruptcy judge will approve the sale at a hearing next week.
There's no timetable yet for when production on Twinkies and other Hostess treats will restart. The deal, though, is probably bad news for eBay sellers who are hoping to get $1,000 or more for a box of Twinkies.