Hostess Bankruptcy: Twinkies Sold For $410 Million; Will You Be Able To Buy Them Soon?

The bankrupt snack maker Hostess, Inc., has sold the rights to its snack division to a private equity firm for over $400 million. Daren Metropoulos, a principal at C. Dean Metropoulos & Co., said that his family is "thrilled to have the opportunity to reestablish these iconic brands," citing a joint offer between his father's company and Apollo Global Management, LLC., to purchase the segment of the now-defunct snack maker that produced Twinkies and DingDongs. Apollo already holds investments in classic American brands such as Hardees and Carl's, Jr.

The joint venture was the lone bidder in an attempt at auctioning the famous brand according to a filing in bankruptcy court in White Plains, N.Y. Separate deals have almost been reached between Hostess' Wonder Bread and Drake's brands and two other food manufacturers. They are Flower Foods and McKee Foods respectively. Hostess officially ceased its production operations in November 2012.

Twinkies first appeared as a confectionery creation of Illinois baker James A. Dewar in 1930.