KANSAS CITY, Mo. -- Hostess Brands LLC, the bakery firm arising from its second bankruptcy in four years, is preparing to resume offering its iconic snack cake, the Twinkie, nationwide on July 15, reported Bloomberg.
The company, which filed for bankruptcy in January 2012 less than three years after emerging from an initial filing, plans to revive its finish line of snack cakes, Hannah Arnold, a agency spokesperson, told the news agency.
You are watching: The sweetest comeback in the history of ever
Hostess is currently owned by Apollo Global Management LLC and C. Dean Metropoulos & Co., whose unified sell of as much as $410 million for company's snack-cake enterpincrease was the just one submitted throughout the bankruptcy process in March. The snack cakes--Twinkies, CupCakes, Ding Dongs, Ho Hos and more--then went out of production.
Based on the outputting of nostalgia sparked by its "death," Hostess is expecting a blockbuster rerevolve following month for Twinkies and other sugary treats, sassist an Associated Press report. The company states the cakes will taste the same however that the boxes will certainly currently bear the tag line "The Sweetest Comeback in the History of Ever."
"A lot of impostor assets have actually pertained to the market while Hostess has actually been off the shelves," shelp Daren Metropoulos.
Hostess Brands Inc. was struggling for years prior to it filed for Chapter 11 bankruptcy reorganization. Workers blamed the troubles on years of misadministration, and also a faientice of executives to invest in brands to save up through changing tastes. The company sassist it was weighed down by higher pension and medical costs than its competitors, whose employees were not unionized.
To steer it via its bankruptcy recompany, Hostess hired restructuring experienced Greg Rayburn as its CEO. But Rayburn ultimately failed to reach a contract agreement via its second largest union. In November, he blamed striking workers for crippling the company's capability to preserve normal manufacturing and announced that Hostess would liquiday.
The shuttering motivated a rush on Hostess snack cakes, with stores offering out of the most famous brands within hrs.
About 15,000 unionized employees lost their work in the results.
In unwinding its business, Hostess offered off its brands in chunks to different buyers. Its major bread brands including Wonder were marketed to Flowers Foods, which renders Tastykakes. McKee Foods, which makes Little Debbie snack cakes, snapped up Drake's Cake, which has Devil Dogs and also Yodels.
See more: How To Say Are You Okay In Japanese Expression For 'Are You Okay?'
Apollo Global Management, founded by Leon Black, is recognized for buying troubled brands then offering them for a profit; its investments incorporate fast-food chains Carl's Jr. and also Hardee's. Metropoulos & Co., which has actually revamped then sold off brands consisting of Chef Boyardee and Bumble Bee, also owns Pabst Brewing Co.