That’s right everyone’s favorite snack has been saved and scheduled to be back on your supermarket shelves by summer. Associate Press, New York reported, the Hostess company which had set in motion a bankruptcy auction based on a $410 million offer from Metropoulos & Co. and Apollo Global Management but, due to the lack of bidders for other Hostess products the auction was halted.
A scheduled auction for the companies Wonder Bread products has also been cancelled. CNN Money, New York reported, the Hostess company closings resulted in 18,500 eliminated jobs. Hostess subsidiaries responsible for the production and distribution of other Hostess products were liquated at the start of the bankruptcy process. Flowers Foods with a $360 million bid has acquired the Hostess bread portion of the company which produces products such as; Wonder Bread, Nature’s Pride, Merita, Home Pride and Butternut bread brands along with 20 bakeries.
Metropoulos expressed to CNN, how excited the company is with the re-emerges of America’s favorite snack, the process of developing new marketing campaigns and, the creation of jobs for many of the Nation’s cities.
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