Arguably the most famous US snack food of all times went on the auction block Monday after bankrupt Hostess Brands Inc. received approval to sell Twinkies and many of its other iconic products.
Hostess won court approval to begin selling its assets, which include famous brand names Twinkies, Wonder Bread, Drakes and Dolly Madison.
A court hearing to determine the winning bids is scheduled for March 19 in US Bankruptcy Court in White Plains, NY, according to the Reuters international news service.
Hostess filed for bankruptcy last year after a labor dispute with its unionized bakers shut down production.
The 82-year-old company was granted permission in November to develop a plan to shut down operations.
The expected sale of assets, which range from its Twinkies and Wonder Bread brands to its real estate and baking equipment, is being run by Perella Weinberg Partners, Reuters said.
Hostess' Dolly Madison brand of snack cakes was distinguished by its use of characters from the famous Peanuts comic strip drawn by Charles Schultz, who lived the last 30 years of his life in Santa Rosa, Calif.