Junk Food, Hostess Brands | featured news

Private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co are near a deal to buy snack cake brands including Hostess Twinkies and Donettes, two sources familiar with the matter said on Tuesday.

Twinkie lovers, relax. The tasty cream-filled golden spongecakes are likely to survive, even though their maker will be sold in bankruptcy court. Hostess Brands, baker of Wonder Bread as well as Twinkies, Ding Dongs and Ho Ho's, will be in a New York bankruptcy courtroom today to start the process of selling itself.

...Even if America’s iconic lard-log is dying, however, its entrepreneurial spirit is very much alive. Which is evidenced by the market for Twinkies and Twinkie-related products that is currently emerging on eBay. According to prices set by the sellers on the auction site, if you want a piece of air-puffed, sugar-soaked, corn-fed American history … it is going to cost you.

The maker of Twinkies, Sno Balls and Wonder Bread is trying to lose the fat. Hostess Brands is hoping to cut its high costs as it heads back into bankruptcy protection for the second time in less than a decade.