Bankruptcy Judge Robert Drain has approved the sale of the sweet cake business formerly operated by Hostess Brands, clearing the way for Twinkies and other brands to return to shelves.
Hostess Brands Inc. is selling the Twinkies, Ding Dongs and Ho Hos brands to Apollo Global Management and Metropoulos & Co. for $410 million. Metropoulos has said it hopes to have the snack cakes back in stores by this summer.
The judge also approved the sale of Hostess bread lines to Flowers Foods. Flowers will obtain Wonder Bread, Nature’s Pride, Butternut, Home Pride and Merita as part of the $360 million deal.