The world was in an uproar when Hostess announced they were closing up shop due to bankruptcy. What are the snackers of these delicious confections going to do? There really aren’t any other tasty little cakes that could compare to the Twinkies, Ho-Ho’s, Ding Dongs or all the other delightful baked goods they provided for the past 83 years. According to a news release from USA Today on March 13 new buyers are ready to engage in a private sale of the company’s recipes.
Apollo Global Management and Metropoulos affiliates have placed their bid of $410 million for the five bakeries Hostess was engaged in under the name of Continental Baking Company in the state of Illinois. The sale of the company including its recipes needs approval from the U.S. Bankruptcy Court. There is a scheduled hearing set for March 19.
Mc Kee Foods on the other hand currently manufacture the confections we all know as Little Debbie cakes. Mc Kee Foods were originally in the running with a bid of $27.5 million. But it seems that the bid from Apollo Global Management and Metropoulos may have also included the sale of the Drake’s brands of snack cakes too. These Devil Dogs and Yodels everyone remembers and loves. Right now there is an auction scheduled for March 15 whereas Hostess will sell their other brands including the Drake Cakes line to the highest bidder.
Everyone is on bended knee waiting for the hearing results as to if and when the sale of Hostess will go though. Affiliates from Apollo Global are all in agreement that reviving the top rated snack cakes will be their highest priority and will provide the company with a profit while gaining a high standing profile.
We all look forward to the day that these iconic confections will be back on store shelves for consumers to once again purchase and enjoy as they have been doing for decades.
Jackson residents will soon be able to purchase these iconic snack cakes at any of these local grocery stores Reeves Grocery, Stringers Grocery, J & M Grocery, Pick’n Save or Wal-mart for all the ingredients needed for this recipe.
Are you looking forward to their return too?
© 2013 Beverly Mucha / All Rights Reserved
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