The report of the demise of that golden sponge cake with the creamy filling may have been premature. Twinkies and their Hostess snack brethren could be back by as soon as this summer. Two private equity firms have bought the iconic brands for $410 million, CNN reports.
Flickr/Christian Cable Twinkies live!
There were no other qualified bids for the bankrupt company's brands, so the $410 million offer won by default, with no further approval of the court required.
Anthony Michael Sabino, a business school professor at St. John's University, told CNN, "The good news is a significant amount of money to pay Hostess' creditors. The great news, Twinkies have been saved!"More »