The last Twinkies rolled out of Hostess factories in November. But the iconic brand appears to be making a comeback.
Eleven companies have submitted bids to acquire the Hostess cake brands, which include Twinkies, out of the bankruptcy process, according to court documents filed this month. The number of bidders indicates a robust interest in reviving the snacks.
“Somebody’s going to make Twinkies — that’s not a concern," according to a source close to the negotiations. “The question is who and how."
A winner could be announced as early as next week, although the process could drag on in bankruptcy court in New York much longer.
Hostess Brands announced Nov. 16 that it would wind down its operations, closing 33 bakeries, 565 distribution centers, approximately 5,500 delivery routes and 570 bakery outlet stores throughout the United States.
More than 18,000 people lost their jobs.
Reportedly among the leading bidders is C. Dean Metropoulos and Co., a private equity firm that also owns Pabst Blue Ribbon.