Snack lovers went into a slight panic when Hostess went out of business last year, because that meant no more Twinkies. To me, it meant no more Merita bread, and I still haven't adjusted. But fear no more, Twinkies will return July 15th!
Metropoulos & Co. and Apollo bought Twinkies and other Hostess cakes for $410 million.
Apollo Global Management, founded by Leon Black, is known for buying troubled brands then selling them for a profit; its investments include fast-food chains Carl's Jr. and Hardee's. Metropoulos & Co., which has revamped then sold off brands including Chef Boyardee and Bumble Bee, also owns Pabst Brewing Co.
The trimmed-down Hostess Brands LLC has a far less costly operating structure than the predecessor company. Some of the previous workers were hired back, but they're no longer unionized.