Looks like Twinkies have a new owner—and if all goes according to plan, the classic snack could be back in stores within months. Hostess has canceled today’s auction for its brands and facilities and will sell them to Apollo Global Management and Metropoulos & Co., investment firms that bid $410 million. As of Monday’s bidding deadline, it was the only qualified offer, the New York Times reports. Now the companies, which the Times describes as having “a shared history of corporate turnarounds,” await court approval; a hearing is due March 19. As for what this turnaround could look like, the would-be owners gave a few hints: Twinkies in more stories, 100-calorie options, and Zach Galifianakis as potential spokesman. Read more …
Real talk: I have always been more of a Little Debbie fan — Swiss Cake Rolls forever! — so I’m not really among the legions of fans mourning the demise of Twinkies, Ding Dongs, and Sno Balls as Hostess, the brand that makes the sweet snacks, has sought court permission to go out of business. The truly sad part is that 18,500 Hostess workers will now be out of jobs; Hostess claims a national strike by members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union — who were resisting Hostess’ attempts to cut wages and benefits — has caused them to shut down shop. But union representatives say that the decision comes as a result of decades-long mismanagement — including a previous bankruptcy filing — and that Hostess was attempting to use the workers as scapegoats as they go about selling off the brand’s assets. I don’t know about you, but an inability to pay workers a decent wage would make even the freshest Twinkie tastes rotten. [NY Times]
Twinkies for breakfast, lunch and dinner? Sounds kind of gross (and, OK, delicious) to us — and it’s also the diet Mark Haub used to shed more than 27 pounds. The Kansas State University nutrition professor ate a steady diet of Twinkies to prove that it’s calorie consumption — not nutritional content — that makes us lose weight. Now, before you run out to the grocery store and purchase every Twinkie in stock, you should know that Twinkies were just part of Haub’s diet. He also took vitamins, ate a can of vegetables and a protein shake a day — and decreased his caloric intake from 2,600 to 1,800 calories a day.
The amazing part? Keep reading »