Bankruptcy Judge Approves Sale of Some Hostess Brands
(Memphis) A federal bankruptcy judge on Tuesday approved the sales of several Hostess Brands product lines.
Included in the sale are Twinkies.
The bread division, which includes Wonder Bread and the bakery here in Memphis, will go to Georgia-based Flowers Foods which makes Nature’s Own Bread and Tastykakes.
Most of Hostess’ popular snack cakes, including Twinkies and Ho-Hos, will be sold to two investment firms, Apollo Global Management and Metropoulous & Company.
The firms already own Pabst Blue Ribbon Beer and Vlasic Pickles.
The rest of the snack cakes, which are sold under the Drake’s Cakes label, will go to Tennessee-based McKee Foods, maker of Little Debbie Cakes.
If the judge approves the liquidation deals, they will then go before federal regulators for final approval.