71°
Partly sunny
TUE
 74°
 55°
WED
 81°
 53°
THU
 81°
 53°
FRI
 81°
 53°
SAT
 84°
 52°

Twinkies sale approved by judge

  • FILE - In this Nov. 16, 2012 file photo, a cashier rings up boxes of Hostess Twinkies and Cup Cakes at the Hostess Brands' bakery in Denver. Wonder bread is one step closer to returning to school lunchboxes. A person familiar with the situation says a bid by Flowers Foods to buy Wonder and several other bread brands from Hostess was met with no competing offers on Tuesday, Feb. 27, 2013. The individual requested anonymity because the auction process is private. (AP Photo/Brennan Linsley, File)

NEW YORK — A bankruptcy judge on Tuesday approved the sale of Twinkies to a pair of investment firms, one of which has said it hopes to have the cakes back on shelves by summer.

Hostess Brands Inc. is selling Twinkies, Ding Dongs, Ho Hos and other brands to Apollo Global Management and Metropoulos & Co. for $410 million. Evan Metropoulos, a principal of the latter firm, said in an interview that he wants to have the snack cakes back on shelves by June and that the brands could benefit from new flavors and other product extensions.

"There's no mistake, we've got to move smartly, we've got to move quickly," Metropoulos said.

He also said that comedians Will Ferrell and Zach Galifianakis are at the top of his "wish list" for potential pitchmen. But he doesn't plan on formally approaching anyone about marketing deals until after the sale closes in coming weeks.

Metropoulos, which owns Pabst beer, has already used Ferrell in its ads. Apollo's investments include the fast-food chains Hardee's and Carl's Jr., which is known for indulgent burgers and splashy ads starring scantily clad women.


© The Press Democrat |  Terms of Service |  Privacy Policy |  Jobs With Us |  RSS |  Advertising |  Sonoma Media Investments |  Place an Ad
Switch to our Mobile View