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Posted: 5:00 p.m. Wednesday, March 13, 2013
By Rick Couri
Hostess was to hold an auction today to sell brands and buildings but it's been cancelled. Instead it looks like Apollo Global Management and Metropoulos & Co will buy the business for $410 million dollars.
Metropoulos said "we would hope to have this wonder product back on the shelf by early this summer."
Twinkies began disappearing from shelves after Hostess announced their bankruptcy.
The company will now have to wait for a court approval hearing set for March 19.
It’s clear that Apollo has a few ideas for the day they take over the brand. Included are more Twinkies in stories, a 100-calorie option, and Zach Galifianakis in their commercials.
Metropoulos has experience with consumables, they also own Pabst Blue Ribbon and Vlasic pickles.
The company’s bid will also buy Ho Hos, Ding Dongs, and the rest of Hostess cake brands.
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