Prayer works! After Hostess Brand went belly up, the future of its many delicious snacks went uncertain. Well, not anymore! Hostess has sold Twinkies, as well as its other snacks, to Apollo Global Management and Metropoulous & Co., a joint venture between two private equity firms, for $410 million. And the best part, they plan to have the cream-filled goodnesses back on shelves by this summer!
Consumerist with the quotes:
“Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment,” Daren Metropoulos, a principal at his family’s private equity firm, told Reuters in an email. “We look forward to having America’s favorite snacks back on the shelf by this summer.”
With Google Reader’s impending death, this is great news for those of us looking to eat our way to acceptance and happiness.