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
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.
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!!
The possible road to success would be to actually recreate the original product, sans the chemical blob recipe, and give us something fun AND not full of deadly crap. They don't even taste like Twinkies anymore anyway so why mourn the loss? Enlighten yourselves on the ingredients behind the chemical blob.... http://www.divinecaroline.com/22106/35281-twinkie-ingredients-revealed
For all the union bashers please research how Hostess went under. Company already threatened bankruptcy 3 years ago and told workers that they needed to help and take a 8% pay cut and freeze pensions. The union agreed and all was happy....then upper management got huge raises. Union members were upset of course. Then the company again asked the union members to take another pay cut which the union members said don't think so and went on strike.
If your boss told you bad times and asked you to take a pay cut to help...would you? If you did then you find out that your boss gets a raise after you cut your pay. Then your boss comes back and asks for another pay cut...would you say yes or fight?
Research before people make ignorant union comments. I work for a union and am proud of what they have done.
Mmmmmmmmmmmmmmmm......Twinkies...........Will Obama care force us to stop eating Twinkies?
What the damn hell. Its a freakin twinkie. Cupcakes, hostess, little debbies, zingers, we love all the little sunshine it brings when it puts the **** smile on our face. Pull the fricken politics out of your butts, use your heads and realize most everyone wants one of these now and again someone buy the damn companies and put on the market again make billions of people happy along with probably billions of dollars. Yes, it is that simple, just follow thru.
Copyright © 2014 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.
[BRIEFING.COM] The major averages ended the midweek session on a flat note after spending the day inside narrow ranges. The S&P 500 hovered near the 2,000 mark for the majority of the trading day, but slumped to new lows during the last hour of action. The index then returned to its flat line, where it settled for the day. For the third day in a row, participation left a lot to be desired with just 487 million shares changing hands at the NYSE.
Equity indices opened with slim gains, ... More
More Market News
The stock rises 9% after the company reveals strong second-quarter results.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'