December 23, 2012 |
NEW YORK - Twinkies, Wonder Bread, and Devil Dogs are likely to return to shelves in coming months, but probably not under the same owners. Hostess Brands Inc. said in bankruptcy court Friday it was narrowing down the bids it received for its brands and expected to sell off its snack cakes and bread to separate buyers. The testimony came from an investment banker for Hostess, which is liquidating. A likely suitor has emerged for the namesake Hostess brand, which includes Twinkies, Ding Dongs, and Ho Hos, along with Dolly Madison cakes, which includes Coffee Cakes and Zingers, said Joshua Scherer of Perella Weinberg Partners.
November 16, 2012
Fearing the imminent liquidation of Hostess Brands Inc. and the loss of an estimated 7,500 jobs, the International Brotherhood of Teamsters on Thursday urged the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union to hold a secret ballot vote on whether to end a nationwide strike that started last Friday over pay and benefits cuts approved by a bankruptcy judge last month. Hostess Brands, which has been in bankruptcy since January, said Wednesday that it would file a motion for liquidation Friday morning if it could not restart operations by 5 p.m. Thursday.
November 19, 2012 |
WITH THE imminent closing of the Hostess plant in Northeast Philadelphia, several hundred people are expected to lose their jobs in the region and thousands nationwide. The loss of anyone's job is a sad affair, and it's only compounded by Thanksgiving falling next week and the Christmas holidays just around the corner. But Hostess has always been an also-ran in the Philadelphia region. This is Tastykake territory. Hostess had a power lineup of Twinkies, Ding Dongs and Ho-hos.
November 17, 2012 |
With the imminent closing of the Hostess plant in Northeast Philadelphia, several hundred people are expected to lose their jobs in the region and thousands nationwide. There's nothing funny about that. The loss of anyone's job is a sad affair, and it's only compounded with Thanksgiving falling next week and the holidays just around the corner. But Hostess has always been an also-ran in the Philadelphia region. This is Tastykake territory. Hostess had a power lineup of Twinkies, Ding Dongs and Ho-hos.
November 21, 2012 |
Sun Capital Partners Inc., the Florida firm co-headed by Philadelphia 76ers co-owner Marc J. Leder, is among the buyers interested in Hostess Brands if a bankruptcy judge approves the Twinkie and Wonder Bread owner's liquidation, Leder told Dan Primack, a writer for Fortune, on Monday. "I think that we could offer a slightly better, more labor-friendly deal than what was on the table last week," Leder told Primack. Leder is also the backer of Mitt Romney who hosted the GOP presidential candidate's infamous "47 percent" fund-raising pitch.
July 17, 2013 |
TWINKIES ARE BACK, but they may be a bit smaller than you remember. The new boxes hitting shelves this week list the spongy yellow cakes as having 270 calories and a weight of 77 grams for two cakes, or 135 calories and 38.5 grams for one cake. Right before it went out of business, the predecessor company had said Twinkies were 150 calories per cake. Photos of past boxes online also indicate the weight to have been 42.5 grams per cake. A spokeswoman for Hostess, Hannah Arnold, said in an email yesterday that the size change was made in "mid-2012" by the predecessor company.
November 21, 2012 |
IRVING, TEX. - Hostess Brands Inc. lived to die another day. The maker of Twinkies and Ding Dongs said late Tuesday that it failed to reach an agreement with its second-biggest union. As a result, Hostess plans to continue with a hearing on Wednesday in which a bankruptcy court judge will decide if the company can shutter its operations. The renewed talks between Hostess and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union came after the company declared last week that it would move to wind down its business and start selling off its assets in bankruptcy court.
January 7, 2013 |
NEW YORK - The makers of Thomas' English muffins and Tastykake snacks are emerging as bidders for Wonder Bread and other Hostess bread brands as the company tries to sell off its assets under bankruptcy court oversight, a newspaper reported Saturday. The Wall Street Journal said Hostess Brands Inc. could announce as early as this week that Flowers Foods Inc. and Grupo Bimbo SAB are in discussions to acquire the bread brands, which include Nature's Pride. The report said the brands could command $350 million.
November 16, 2012 |
Hostess Brands Inc. will puts its famous Twinkies, Wonder Bread and Ho-Hos up for sale, blaming the immediate shutdown of its bakeries on the refusal of a striking union to return to work by a 5 p.m. Thursday deadline. Closing would mean the loss of 18,500 jobs, including hundreds at a Hostess plant in Northeast Philadelphia. "Of course they are blaming the union," said Bob Ryder, who heads the International Brotherhood of Teamsters Local 463, a Fort Washington-based local that represents 130 drivers, mechanics and packers at the Northeast plant.
November 23, 2012 |
WASHINGTON - If you're looking for a heartwarming holiday story, look somewhere else. On Wednesday, the eve of Thanksgiving, Hostess Brands notified 15,000 workers that their jobs were being terminated as a bankruptcy judge approved the company's plan to go out of business. Although a flurry of recent activity had raised hopes that the 82-year-old maker of Twinkies and Ding Dongs could be salvaged, on Wednesday everyone involved pointed a finger at someone else. Texas-based Hostess criticized the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union for holding out in a labor dispute.