Twinkies will be back -- eventually
The iconic snack food will still have a place on grocery store shelves. How and when are still unclear, though.
"Somebody's going to make Twinkies -- that's not a concern," an anonymous source close to negotiations surrounding Hostess Brands told The Washington Post. "The question is who and how."
Twinkie the Kid, the creamy sponge cake's longtime mascot, rode off into the sunset in November when Hostess announced it was shutting its doors after failing to resolve a dispute with its unionized workforce. About 18,000 people lost their jobs.
The business is being sliced up. More than a dozen firms have submitted bids for Hostess' bread business. The snack line, which also includes Yodels, Ring Dings and Devil Dogs, will sell as well -- though it isn't clear who might buy it. Little Debbie is not owned by Hostess as an earlier version of this post reported.
The creamy sponge cake has been a staple of the American diet since 1930. It also is an iconic brand, and those don't come on the market that often. Though people may have fond memories of Twinkies, that hasn't translated into sales. According to the Post, Twinkies sales last year were only about $74 million -- small potatoes for Hostess' $1 billion snack business.
Mexico's Grupo Bimbo, the world's largest breadmaker and the parent of Entenmann's, may be a potential Twinkie bidder along with Flowers Foods (FLO), the second-largest U.S. maker of baked goods. A Grupo Bimbo spokesman declined to comment. Flowers Foods agreed earlier this month to acquire Wonder, Nature's Pride and three other Hostess bread brands for $360 million. Among Flowers' other brands are Tastykake, a Philadelphia snack company that the company acquired in 2011. A spokesman for Flowers couldn't immediately be reached.
--Jonathan Berr does not own shares of the listed stocks. Follow him on Twitter @jdberr. Post was corrected at 10:13 AM on January 28 to remove erroneous suggestion that Hostess owns Little Debbie.
More on moneyNOW
- Interview early to get that job
- Why restaurants are banning shutterbugs
- Not a college grad? No recovery for you
Who's going to make them?? What?? I'm close to losing all hope. Find the bakers who made them
at Hostess. Put them on the job, tell them "make twinkies". Then sell them.
Ate my last Twinkie on or about Jan18-19th...Out of the freezer(first time ever froze them,just 2-3)
G-Kids bought a box on-line for me, for Christmas..
Other ones got me a Gift box of Crown Royal/ with the glasses..
Man, Great kids.....Good Whiskey and Great Twinkies.....wahooooo!!
There is a facutal mistake in this post, it states that the Hostess Brands snack line includes Little Debbie. Little Debbie snack cakes are produced by McKee Foods, a privately held, family-run company.
The new and improved Twinkies will have a creamy cyanide filling that we hope you all will enjoy.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The good news: Bad weather means fewer drivers on the road, and they're going slower than usual. The bad news: It's still dangerous.
- 8 questions to ask before Mom and Dad move in
- High deductibles fuel new worries of Obamacare sticker shock
- How to use your credit card to donate to charity
- Try this instead of raising the minimum wage
- People left $500,000 in coins at airports last year
- How your driving can affect your credit
- Obamacare projected to cost hundreds of billions less
- November jobs report: Winners and losers
- Student loan debt climbs for 5th year in a row
[BRIEFING.COM] There wasn't a lot of excitement in the stock market today and there is nothing wrong with that. After rallying in broad-based fashion on Friday, the major indices stood their ground (for the most part) amid a lack of conviction from buyers and sellers alike.
Today wasn't a case so much of the stock market going up as it was a case of some influential stocks going up to keep the major indices on a winning path. In fact, decliners were just about even with ... More
More Market News
The photo-sharing site only has 10 employees, and it may be up for grabs.