The great American nightmare is over. Twinkies, Ding Dongs, Ho Hos, Sno Balls and Dolly Madison Zingers have safely landed at a new home.
Several months ago, consumers feared the worst. The company who makes made all these tasty treats—Hostess Brands, went bankrupt and the cream-filled snacks vanished from store shelves. Hoarders stocked up on supplies, and Americans feared the worst. Sellers on eBay were reportedly seeking as much as $250,000 for two boxes of Twinkies.
But now, in a deal, worth $410 million, the new owners will be Apollo Global Management and Metropoulos & Company. It seems like a good home. Metropoulos also owns Pabst Blue Ribbon—which has seen a major brand resurgence, and Vlasic pickles.
Breath deep, Twinkies fans.
The New York Times reports that the deal includes five Hostess factories, which the buyers hope to restart so to begin restocking shore shelves by the summer. And the new company will almost certainly feature the Hostess name.
“There’s a great consumer fan base that hasn’t declined,” Daren Metropoulos, one of Mr. Metropoulos’ sons and an executive at the family firm, said in an interview. “We saw a real opportunity to revitalize these brands, just with some T.L.C.”
Yes, the great American nightmare appears to be over.