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Twinkies and other Hostess treats will be back on store shelves thanks to two investment firms who bought the products from the now-bankrupt Hostess Brands.
According to the New York Times, the deal with Apollo Global Management and Metropoulos & Company is worth $410 million. In addition to Twinkies, the firms also purchased Ding Dongs, Ho Hos, Sno Balls and Dolly Madison Zingers, which should all be back on the shelves by this summer.
The firms also own Vlasic pickles and Pabst Blue Ribbon. C. Dean Metropoulos will likely be the CEO of the new Hostess. They were the only ones to make a qualified bid and will use five Hostess plants to produce the snacks.
Other Hostess brands will live on at other companies. The Associated Press reports Flowers Foods was picked for Wonder Bread. Both deals will have to be approved by bankruptcy court on March 19.
Hostess announced it was shutting down operations in November after negotiations with its bakers’ union broke down. Although the company did say it was confident that other companies would buy its brands, people still rushed out to buy them. Boxes of original Twinkies are still commanding high eBay prices.