Let’s face it: last November, when news of Hostess’s financial woes first broke, you thought that the world was going to end. You prepped, you hoarded, you stockpiled. You looked like this man to the right.
Well, just like Y2K thirteen years ago, all of that preparation was a waste of time. You see, Hostess, makers of the Twinkie, the spongy, cream-filled, mildly radioactive snack cake we have grown to love, may have found two possible buyers to save the iconic brand. They are currently being courted in a joint deal by two suitors, both private-equity firms: Apollo Global Management and C. Dean Metropoulos & Co. Ah, won’t those names look good on the box. The offer by these firms to purchase the subsidiary and keep Twinkies in production is valued at $400 million.
If the deal goes through, Apollo Global Management, owner of Hardee’s and Carl’s Jr., and C. Dean Metropoulos & Co., owner of the Pabst Blue Ribbon brewing company, will have successfully cornered the coveted college student vertical.
So, for the time being, you can breath a little easier. The famous, yellow Twinkies snack cakes will live on. It shouldn’t come as a surprise. Everyone knows that Twinkies last forever.
Here’s more info on the buy-out: