IRVING (WBAP 24/7 News) - The cream-filled icon known as the Twinkie will soon have a new home and make a comeback.
Irving-based Hostess says it has picked a partnership of two investment fir,s Apollo Global Management and Metropoulos & co., as the new owner of its snack cake business, officially ending the sale of the bankrupt baker's most prized assets.
Apollo and Metropouls spent $410 million for the Hostess brands, the company said. It added that it receive no other "qualified"bids for the brands, which also include Dolly Madison.
The sale still requires the approval of the federal bankruptcy court overseeing Hostess' Chapter 11 case. A hearing has been scheduled on that issue for March 19.
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