Twinkies maker says 110 buyers interested in Hostess

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The future of Twinkies is virtually assured.
Hostess Brands Inc. got final approval for its wind-down plans in bankruptcy court Thursday, setting the stage for its iconic snack cakes to find a second life with new owners — even as 18,000 jobs will be wiped out.




The company shuttered its 36 plants nationwide, including two in Chicago’s west suburbs: Twinkies’ birthplace plant in Schiller Park where 297 workers bake Twinkies, CupCakes, Ho Hos and Honey Buns, and a bakery in Hodgkins where 325 workers make Beefsteak, Butternut, Home Pride, Nature’s Pride and Wonder breads.
Hostess said in court that it’s in talks with 110 potential buyers for its brands, which include CupCakes, Ding Dongs and Ho Hos. The suitors include at least five national retailers such as supermarkets, a financial adviser for Hostess said. The process has been “so fast and furious” Hostess wasn’t able to make its planned calls to potential buyers, said Joshua Scherer of Perella Weinberg Partners.
“Not only are these buyers serious, but they are expecting to spend substantial sums,” he said, noting that six of them had hired investment banks to help in the process.
The update on the sale process came as Hostess also received approval to give its top executives bonuses totaling up to $1.8 million for meeting certain budget goals during the liquidation. The company says the incentive pay is needed to retain the 19 corporate officers and “high-level managers” for the wind down process, which could take about a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation. The compensation would be on top of their regular pay.

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Twinkies maker says 110 buyers interested in Hostess - Chicago Sun-Times

I think the big 12 should buy it.

These will be non union jobs at best and maybe Mexican bakeries.

http://http://i46.tinypic.com/1z2q336.jpg

Read an article a week or so ago that the owners of Pabst are interested.

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Originally Posted by Wesley

These will be non union jobs at best and maybe Mexican bakeries.

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It's hard to charge $1.99 for ho-ho's being made by employees making $20/hour

I'm sure K-State would take all the cupcakes.:twitcy:

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Originally Posted by ianoconnor

Read an article a week or so ago that the owners of Pabst are interested.

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I've had my share of Ho Hos and beer. A delightful combination if you've never partaken.

i do not get $1.99 worth of marginal benefit out of 1 pack of ho-hos.

I like how they're going to pay off their executive bonuses.

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Originally Posted by SplitIdentity

I like how they're going to pay off their executive bonuses.

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Why would it take $1.8 mil for bonuses? Will the employee pension funds be paying for this wind down?

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Originally Posted by dmclone

It's hard to charge $1.99 for ho-ho's being made by employees making $20/hour

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Ho Ho's have 3 of the major food groups. The chocolate group, the cake group and the white mystery spooge group and are quite possibly the worlds most perfect food.

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Originally Posted by Rabbuk

i do not get $1.99 worth of marginal benefit out of 1 pack of ho-hos.

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Twinkies are great throwing items. They bounce off the wall and are good as new.