03-13-2013, 07:47 AM
A joint venture by private equity firms Apollo Global Management and Metropoulos & Co. will pick up the iconic snack, along with other Hostess products, in a $410-million bankruptcy deal. Twinkies should be back on store shelves by summer. "Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment," Dean Metropoulos said in a statement. Hostess sought to liquidate its business last November following a strike by the Bakery Workers union. With all operations shut down, thousands of workers lost their jobs. Flowers Foods won the Wonder Bread business on Feb. 28 with a $360 million bid. Winning bidders will have to revamp the cost structures for these products, which is a fancy way of saying that not everyone is ikely to get their job back. Here's the rundown from CNNMoney.</ARTICLE>
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