According to an article in the Chicago Tribune on March 19, a bankruptcy judge has approved the sale of certain brands from the failed Hostess Company to several companies that have expressed interest in the food icons.
Two buyout companies, Apollo Global Management and Metropoulos & Co, have combined forces in order to buy Hostess's snack cake brands, and reportedly paid $410 million for Twinkies, Ho Hos, Ding Dongs and Donnettes.
Flowers Food Inc, which is the number 2 baking company in the United States and which makes Tastykakes snacks, purchased Hostess's bread business, which includes Wonder and Nature's Pride brands, for $360 million.
Hostess had filed for bankruptcy last year and was in negotiations to re-structure its loans, when a bakers union strike in November led to the decision to close the company completely.
The bakers union said in a statement that its members would be "indispensable partners" in bringing the iconic baked goods brands back to U.S. consumers.
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