NEW YORK —Hostess Brands Inc. got final approval for its wind-down plans in bankruptcy court Thursday, setting the stage for its iconic snack cakes to find a second life with new owners — even as 18,000 jobs will be wiped out.
The company said in court that it is in talks with 110 potential buyers for its brands, which include CupCakes, Ding Dongs, and Ho Hos. The suitors include at least five national retailers such as supermarkets, a financial adviser for Hostess said. The process has been ‘‘so fast and furious’’ Hostess wasn’t able to make its planned calls to potential buyers, said Joshua Scherer of Perella Weinberg Partners.
Comments
I used to buy 2-3 loaves of Wonder Stoneground Whole Wheat bread every week. I still haven't settled on another brand because I haven't found one that's as good. I will, though.
If other companies intend re-introduce Wonder bread or Twinkies, they'd better do it quickly. People are moving on, and they might not come back.