NEW YORK —
A bankruptcy judge has approved the sale of Twinkies to a pair of investment firms, one of which has said it hopes to have the cakes back on shelves by summer.
Hostess Brands Inc. is selling Twinkies, along with Ding Dongs, Ho Hos and other cakes, to Apollo Global Management and Metropoulos & Co. for $410 million. Evan Metropoulos, a principal of the latter firm, said in an interview that he wants to have Twinkies back on shelves by June and that the brands could benefit from product extensions, such as different flavors.
Apollo’s investments include the fast-food chains Carl’s Jr. and Hardee’s. Metropoulos owns Pabst beer.
Judge Robert Drain of the U.S. Bankruptcy Court of the Southern District of New York also approved the sale of Wonder bread to Flowers Foods, which makes Tastykakes and other breads. Flowers, based in Thomasville, Ga., 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.
A separate hearing is scheduled for April 9 to approve the sale of Drake’s cakes, which include Devil Dogs and Yodels. Hostess picked McKee Foods, the maker of Little Debbie snack cakes, as the buyer for those brands at $27.5 million.
Taken together, a Hostess spokesman said 29 or the bankrupt company’s 36 bakeries were sold as part of the transactions. It will be up to the new owners whether to hire back the thousands of workers who lost their jobs when the company went out of business.
In a statement, the company’s bakers union said it shared the enthusiasm exhibited by the new ownership to bring Hostess brands back to shelves quickly.
The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union said it believed “our highly-motivated and skilled workforce will serve as indispensable partners in the seamless re-opening of factories.”
Hostess shuttered its factories in late November following a strike by the union. The company had been struggling financially for years.
Top Stories
Twinkies sale approved by judge
- Top Stories
-
-
Joplin residents lend a hand in Moore
Joplin is paying it forward. The day before the two-year anniversary of an EF-5 tornado leveling one-third of Joplin, pastors from Ignite Church in Joplin were in Moore, where an EF-5 spent 40 minutes on the ground on Monday.
-
Monetary donations cited as best help for Moore
Financial support for organizations providing shelter and supplies to Oklahoma tornado survivors is recommended for people who want to help. Otherwise, the word is to wait for requests.
-
Joplin man continues struggle to recover two years after tornado
As the Joplin tornado passed overhead, sweeping the house at 2430 S. Pennsylvania Ave. away in its wake, there was a moment of calm. Delbert Mcguirk was on his back in the basement, where he had sought shelter along with his wife, daughter and two grandchildren. In that moment of relative quiet, he stared up into the eye of the tornado.
-
Janet Napolitano to speak at tornado anniversary ceremony
Janet Napolitano, secretary of Homeland Security, will be in Joplin Wednesday to speak at a ceremony marking the second anniversary of the Joplin tornado.
-
Globe reporter describes scene in Moore, Okla.
Joplin Globe Reporter Andra Stefanoni said the tornado-damaged town of Moore, Okla., is eerily reminiscent of Joplin on May 22, 2011.
-
Donations being accepted for Moore tornado survivors
Joplin residents and area nonprofit and relief organizations, remembering the devastation sustained two years ago in the Joplin tornado, are rallying today to send help to residents of Moore, Okla.
-
Hearing slated for Joplin East Middle School teacher set for Thursday
An East Middle School teacher who was removed from his classroom last month following an investigation by district officials will go before the Board of Education this week.
-
SLIDESHOW: Moore, Okla. rescue and recovery
Emergency crews searched the broken remnants of an Oklahoma City suburb Tuesday for survivors of a massive tornado that flattened homes and demolished an elementary school. At least 24 people were killed, including at least nine children, and those numbers were expected to climb.
-
Medical examiner: 24 dead in Oklahoma twister
Emergency crews searched the broken remnants of an Oklahoma City suburb Tuesday for survivors of a massive tornado that flattened homes and demolished an elementary school.
-
Catholic Charities puts out call for donations to fill two trucks for Oklahoma tornado survivors
Catholic Charities of Southern Missouri is requesting donations to fill two box trucks with needed supplies for the tornado-devastated region of Moore, Okla.
- More Top Stories Headlines
-
Looking for Love? Take the Prague Metro
Crews Race to Find Survivors of Okla. Twister
First Person: Baby Falcons on a New York Bridge
Oklahoma: Images of Devastation, Reunion
Reunited Dad, Son: 'We Just Praise God'
Slow Pokes: Acupuncture Helps Sick Turtles
Moore, Okla. City of Reunions, Tears After Storm
Former IRS Chief: Can't Say How List Happened
Gov. Fallin: Okla. Facing Horrific Disaster
Tim Cook Defends Apple's Tax Accounting
AP Photograher: 'It Was a Miracle' They Got Out
Raw: Crews Search for Survivors of Okla. Tornado
Raw: Tearful Reunion After Okla. Tornado
OKC Hospital Describes Treating Tornado Wounded
Obama Pledges Urgent Aid for Tornado Victims
Raw: Massive Funnel Clouds in Oklahoma
