New owners hope to have Twinkies on U.S. store shelves by summer
$410M offer wins Hostess brands
The new owner of Hostess Brands Inc's snack cakes hopes to have Twinkies back on U.S. store shelves by this summer, according to a member of the purchasing group.
"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 on Tuesday.
"We look forward to having America's favorite snacks back on the shelf by this summer."
Daren's father, Dean Metropoulos, teamed up with Apollo Global Management to offer $410 million for Twinkies and other snack cakes. Their offer was to serve as the minimum offer for the business but no other bidders emerged.
News of their winning offer was revealed late on Monday in a court filing.(Reporting By Martinne Geller in New York)