Twinkie fans might have something to celebrate this summer.
Hostess is set to sell their brand to Apollo Global Management and Metropoulos & Co., who made a joint offer of $410 million to revive these now extinct snack cakes. Originally Hostess anticipated a bidding war for their popular products which include Ding Dongs, Ho Hos, etc. but no additional qualifying bids came in.
Though a hearing to approve the sale in bankruptcy court isn't scheduled until March 19, Metropoulos & Co. CEO and Founder, Dean Metropoulos is anticipating that "America’s favorite snacks back on the shelf by this summer.”
Twinkies and other Hostess brand products have been off shelves since November 2012, when the company announced it was shutting down its plants and going out of business. "Twinkie Panic" erupted soon after as consumers flocked to their local grocery stores to stock up on their favorite snacks. During the Hostess shortage, Twinkies could be found on ebay, however it definitely was going to cost you to get your sweet fix.