Despite all the hand-wringing and gnashing of teeth, Twinkies snack cakes are not going to disappear. No, there’s nothing official yet in terms of a buyer for Hostess, but it’s going to happen.
Whether some firm buys the entire Hostess company, or the individual brands separately, you can bank on the fact that Twinkies—and probably Ho-Ho’s and Ding Dongs, too--will not be departing from this world.
Originally, Hostess asked for bids for its entire company valued at about $2.4 billion. But recently the law firm Perella Weinberg Partners indicated it would sell some brands individually, the Sarasota Herald-Tribune said.
Investment firm Hurst Capital, run by twin Hurst brothers, both 26, said they would be running the day-to-day operations of Twinkies if they win the bid, according to the Herald-Tribune story.
"I would like people to know that it is not just us," Austin Hurst, 26, told the Herald-Tribune. "We have a management team in place and financial backers in place and we retain a very significant law firm.”
Other bids are anticipated from Sun Capital Partners, a Florida-based private equity firm, Flowers Foods of Georgia, and the Bimbo Group, a company based in Mexico that owns Sara Lee and Entenmann's, the Herald-Tribune said.
So all the Twinkies fans out there can take a deep breath and take the fate of those golden brown sponge cakes with the creamy filling off their worry list. The Great Twinkies Scare of 2012 will likely be replaced by the Great Twinkies Comeback of 2013.
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