Multiple Companies Bid To Acquire Hostess Brands
The last shipment of Twinkies may have gone out, but several large companies are bidding to breathe new life into the iconic brand. Wal-Mart Stores, Inc. and Kroger Co. are among several well-known names reportedly bidding for assets of Hostess Brands Inc., the bankrupt manufacturer of Twinkies, Ding Dongs and Wonder bread, which said last month it would liquidate and lay off more than 18,000 employees after failing to reach an agreement with its striking bankersâ€™ union.
In fact, according to an anonymous person familiar with the matter who spoke to Bloomberg, there are currently about two dozen bidders interested in acquiring all Hostess assets, only the cakes or bread businesses, or individual Hostess plants or products. In addition to Wal-Mart and Kroger, Sara-Lee parent Grupo Bimbo SAB, Natureâ€™s Own parent Flower Foods Inc., Sun Capital Partners Inc., Alpha Baking Co., Pabst beer owner C. Dean Metropoulouss & Co. and investment firm Hurst Capital have all expressed interest in all or some of Hostess brands.