Hostess set to accept $410M offer for its cake brands
(NEWSER) – Looks like Twinkies have a new owner—and if all goes according to plan, the classic snack could be back in stores within months. Hostess has canceled today's auction for its brands and facilities and will sell them to Apollo Global Management and Metropoulos & Co., investment firms that bid $410 million. As of Monday's bidding deadline, it was the only qualified offer, the New York Times reports.
Now the companies, which the Timesdescribes as having "a shared history of corporate turnarounds," await court approval; a hearing is due March 19. As for what this turnaround could look like, the would-be owners gave a few hints: Twinkies in more stories, 100-calorie options, and Zach Galifianakis as potential spokesman.
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