We brought you the sad news last week that Hostess Brands Inc. filed for bankruptcy. Even then, CEO Gregory F. Rayburn was hopeful the company would find a buyer, and it looks like a few have surfaced.
Flower Foods, Con Agra, and El Grupo Bimbo have all expressed interest in acquiring the brand, but it’s El Grupo Bimbo that is the largest bread-baking company in the world and may have an edge over the other two companies.
Rayburn told news reporters yesterday, “The problem has always been the cost structure, the union rules, the pension legacy, the pension cost and the cost structure.”
El Grupo Bimbo is located in Mexico and would be able to take advantage of the lower sugar prices there, also giving it an edge over the other two companies.
When news broke last Friday of the bankruptcy (the second in 10 years; the first was back in 2004), Americans were panicked their favorite snack foods would be gone forever and cleared out store shelves over the weekend.
One man remarked of the pandemonium, “It’s pandemic out here. Everybody’s going to grab the Hostess.”
Fear not, Americans. This might not be the end of your Twinkies and Ding Dong’s after all.
But just in case this buy-out takes awhile, check out these YouTube videos of DIY Twinkie recipes!