Twinkies may be back in business
Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes, received court permission on Monday to proceed with auctions for several of its brands, including Twinkies and Wonder Bread.
The U.S. Bankruptcy Court in White Plains, NY, cleared Hostess to sell off assets related to its Hostess and Dolly Madison Brands.
A hearing to approve the successful bidder is scheduled for March 19.
Private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co have set a baseline offer of $410 million to buy the company’s snack cake brands including Hostess Twinkies and Dolly Madison, Hostess said last month.