Twinkies, Ding Dongs and Wonder Bread may soon be back in stores after a bankruptcy court judge Tuesday approved sales of several iconic brands that had been owned by the failed Hostess.
Buyout firms Apollo Global Management and Metropoulos & Co teamed up for Hostess' snack cake brands, paying $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes. Flowers Food Inc, which makes Tastykakes snacks, picked up most of Hostess' 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.
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.
Hostess filed for bankruptcy last year and gave up on its plans to emerge in November, blaming a bakers union strike for its failure to recover from Chapter 11.