Sorry, stoners, but your beloved Twinkies won't be back on store shelves in time for your favorite snacking holiday this April 20. But don't worry, they are coming back: the new Hostess sale will put everyone's favorite processed guilty pleasure back on store shelves right when you're about to head to the beach.
The New York Post reports that Leon Black's private-equity firm, Apollo Global Management, has teamed up with "veteran food exec" Dean Metropoulos to put in the only bid for Hostess's line of snack foods, which also includes Ho-Hos, Cupcakes, Donettes, and Ding-Dongs, by Monday's 5 p.m. deadline. So they ended up getting the whole line for what was supposed to be their minimum offer: $410 million.
Hostess went bankrupt back in November and laid off 18,500 workers in the process. There were some last ditch efforts to save the Twinkies bakery, but they failed. There's bad news for former Hostess employees who might see this sale as good news: they won't get their jobs back. Black and Metropoulos intend to outsource delivery services and only use existing bakeries for production.
The Post guessed the snack foods wouldn't hit store shelves again until September, but there's some good news: the wait should be much shorter than that. "We look forward to having America's favorite snacks back on the shelf by this summer," Daren Metropoulos, son of Dean and a principal at the family private equity firm, told Reuters. Unfortunately, the first day of summer isn't until June 21. Sorry, dudes. You'll have to stock up on the leftovers still available on eBay. Your local bodega might even still have a box somewhere in the back.
This article is from the archive of our partner The Wire.