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  1. #1
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    Twinkies maker says 110 buyers interested in Hostess

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



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    Re: Twinkies maker says 110 buyers interested in Hostess

    I think the big 12 should buy it.



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    Re: Twinkies maker says 110 buyers interested in Hostess

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


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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    Re: Twinkies maker says 110 buyers interested in Hostess


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    Re: Twinkies maker says 110 buyers interested in Hostess

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



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    Re: Twinkies maker says 110 buyers interested in Hostess

    Quote Originally Posted by Wesley View Post
    These will be non union jobs at best and maybe Mexican bakeries.
    It's hard to charge $1.99 for ho-ho's being made by employees making $20/hour



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    Re: Twinkies maker says 110 buyers interested in Hostess

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



  8. #8
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    Re: Twinkies maker says 110 buyers interested in Hostess

    Quote Originally Posted by ianoconnor View Post
    Read an article a week or so ago that the owners of Pabst are interested.
    I've had my share of Ho Hos and beer. A delightful combination if you've never partaken.


    I'd agree with you, but then we'd both be wrong.

  9. #9
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    Re: Twinkies maker says 110 buyers interested in Hostess

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



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    Re: Twinkies maker says 110 buyers interested in Hostess

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


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    Re: Twinkies maker says 110 buyers interested in Hostess

    Quote Originally Posted by SplitIdentity View Post
    I like how they're going to pay off their executive bonuses.
    Why would it take $1.8 mil for bonuses? Will the employee pension funds be paying for this wind down?



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    Re: Twinkies maker says 110 buyers interested in Hostess

    Quote Originally Posted by dmclone View Post
    It's hard to charge $1.99 for ho-ho's being made by employees making $20/hour
    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.


    They say country music speaks to the heart. Unfortunately, it has to go through your ears to get there.

  13. #13
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    Re: Twinkies maker says 110 buyers interested in Hostess

    Quote Originally Posted by Rabbuk View Post
    i do not get $1.99 worth of marginal benefit out of 1 pack of ho-hos.
    Twinkies are great throwing items. They bounce off the wall and are good as new.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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