Stop! Don't buy that $5000 Twinkie on eBay!
Today, CNN reported that Hostess has officially been purchased, and Twinkies, as well as other Hostess treats, could be at the local supermarket as early as this summer. The private equity firms of Apollo Global Management and Metopoulos & Co. placed the winning bid of $410 million for Hostess's snack cake division in a joint venture.
"Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment," said Metropoulos. "We look forward to having America's favorite snacks back on the shelf by this summer. We are also ecstatic to bring jobs back to many cities across the country."
The truth is, the wildly popular snack cakes, as well as other hot-selling products produced by Hostess were never in danger of being pulled from shelves forever. However, the public reacted by creating memes, organizing protests, and purchasing the snack cakes for ridiculous prices. Some time after the dust settled, The Oatmeal created a comic pointing out that the Twinkie ordeal overshadowed news of the extinction of the Eastern Cougar just a year previous. The comic suggests that “every time a species gets upgraded on the endangered species list, we take away one horrible staple from the American diet. For example: Grizzly Bears go extinct? NO MORE BACON, MOTHER****ERS.”
Metropoulos is well known for righting financially troubled brands of foods such as “Pabst Blue Ribbon beer, PAM cooking spray, Chef Boyardee canned pasta, Gulden's Mustard, and Bumble Bee seafood. All of these holdings were eventually sold to Conagra Foods Inc.