Hostess wins bankruptcy court approval to sell Twinkies, other brands

Hostess wins bankruptcy court approval to sell Twinkies, other brands

White Plains : NY : USA | Feb 11, 2013 at 10:02 PM PST
Views: Pending
Dolly Madison commercial circa 1968-1969

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.

A minimum bid of $410 million was set by two private equity firms, Apollo Global Management LLC and C. Dean Metropoulos & Co., which offered that price for the company.

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.

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Late 1960s television commercial for Dolly Madison snack cakes, from YouTube.
Nathan Salant is based in San Francisco, California, United States of America, and is an Anchor on Allvoices.
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  • 	This package of Twinkies contained two of what was perhaps the most famous U.S. snack food.		Photo: Mamiejeanjean/Wikimedia Commons

    Twinkies package

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