{"id":647720,"date":"2013-03-20T05:16:38","date_gmt":"2013-03-20T09:16:38","guid":{"rendered":"http:\/\/www.pehub.com\/?p=191961"},"modified":"2013-03-20T05:16:38","modified_gmt":"2013-03-20T09:16:38","slug":"reuters-judge-oks-hostesss-twinkies-ding-dongs-sale","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/647720","title":{"rendered":"Reuters \u2013 Judge OKs Hostess\u2019s Twinkies, Ding Dongs sale"},"content":{"rendered":"

Twinkies<\/strong>, Ding Dongs<\/strong> and Wonder Bread<\/strong> may soon be back in stores after a bankruptcy court judge on Tuesday approved sales of several iconic brands that had been owned by the failed Hostess Brands Inc<\/strong>, writes Reuters<\/em>. Buyout firms Apollo Global Management<\/strong> and Metropoulos & Co<\/strong> teamed up for Hostess’s snack cake brands, paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes.<\/p>\n

Reuters<\/em> – Twinkies, Ding Dongs and Wonder Bread may soon be back in stores after a bankruptcy court judge on Tuesday approved sales of several iconic brands that had been owned by the failed Hostess Brands Inc.<\/p>\n

Buyout firms Apollo Global Management and Metropoulos & Co teamed up for Hostess’s snack cake brands, paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes.<\/p>\n

Flowers Food Inc, which makes Tastykakes snacks, picked up most of Hostess’s bread business, including its Wonder and Nature’s Pride brands for $360 million. The No. 2 U.S. baking company also bought 20 bakeries and other operations.<\/p>\n

The Beefsteak brand of bread was sold for $31.9 million to Mexico’s Grupo Bimbo S.A.B. de C.V., the world’s largest bread maker. Bimbo already owns Entenmann’s cakes, Arnold bread and Thomas’ English Muffins.<\/p>\n

Hostess also said on Tuesday that United States Bakery had the winning bid in the March 15 auction for its remaining bread brands: Eddy’s, Standish Farms and Grandma Emilie’s. United States Bakery agreed to pay $30.9 million.<\/p>\n

Hostess filed for bankruptcy last year and gave up on its plans to emerge from bankruptcy in November, blaming a strike by its bakers union for its failure to emerge from Chapter 11.<\/p>\n

The bakers union said in a statement on Tuesday its members would be “indispensable partners” in restarting the former Hostess facilities and getting the products back into stores.<\/p>\n

The money raised from the sales will be used to pay off Hostess’s creditors, which the company said totaled $1.43 billion when it filed for bankruptcy.<\/p>\n

Hostess will return to court on April 9 to ask U.S. Bankruptcy Court Judge Robert Drain to approve the sale to United States Bakery and a separate sale of its line of Drake’s snacks. Drake’s Coffee Cake, Ring Dings and Devil Dogs were sold to McKee Foods Corp for $27.5 million.<\/p>\n

The bankruptcy is: In re Hostess Brands Inc, U.S. Bankruptcy Court, Southern District of New York, No. 12-22052.<\/p>\n

(Reporting By Tom Hals in Wilmington, Delaware; Editing by Leslie Gevirtz)<\/p>\n

The post Reuters – Judge OKs Hostess’s Twinkies, Ding Dongs sale<\/a> appeared first on peHUB<\/a>.<\/p>\n

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Twinkies, Ding Dongs and Wonder Bread may soon be back in stores after a bankruptcy court judge on Tuesday approved sales of several iconic brands that had been owned by the failed Hostess Brands Inc, writes Reuters. Buyout firms Apollo Global Management and Metropoulos & Co teamed up for Hostess’s snack cake brands, paying $410 […]<\/p>\n","protected":false},"author":7428,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-647720","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/647720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7428"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=647720"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/647720\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=647720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=647720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=647720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}