“Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment,” said Daren Metropoulos, a principal at his family’s private equity firm, speaking to Reuters via email on Tuesday. Daren’s father, Dean Metropoulos (who bought Pabst in 2010), joined forces with Apollo Global Management to offer $410 million for Twinkies and other snack cakes. Theirs was the only offer.
“We look forward to having America’s favorite snacks back on the shelf by this summer,” said Metropoulos. Other Hostess snack cakes include CupCakes, Ding Dongs, and Ho Hos.
[Image courtesy of Flickr user MrSchuReads]