Hostess Hopeful That Twinkies May Survive
Before you say RIP to Twinkies, Hostess says there’s still hope.
Even though the bakery brand will still be sold in bankruptcy indefinitely, the cream-filled spongecakes may live on after several companies have expressed interest in buying the parts of the company. Twinkies reeled in $68 million for Hostess this past year, according to the Christian Science Monitor.
“We think there’s a lot of value in the brands, and we’ll certainly be trying to maximize value, both of the brands and the physical assets,” said spokesman Lance Ignon Sunday. Though he said it’s likely that some of Hostess’ bakeries will never return to operation because of the industry’s huge capacity, the high brand recognition and attractive $2.5 billion revenue per year may be enough to hold some of your favorite treats over.
WebProNews reports that some of the groups interested include Mexican bread giant El Grupo Bimbo and Con Agra, the company responsible for snacks such as Jiffy Pop popcorn and Crunch ‘N Munch. Hostess is in bankruptcy courtroom today to start the liquidation process.