Daily Archives: March 13, 2013
“Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment”
With these words from Dean Metropoulos, who is the founder of the private equity firm Metropoulos & Co, the dreams of children and adults everywhere are preparing to return to their regular orbits with the summer return of…
Two private equity firms, Metropoulos & Co. and Apollo Global Management, together successfully offered a bid in the amount of $410 million, according to Chris Isidore’s online article, “Twinkies due on shelves by summer as $410 million bid OK’d” on CNN Money today.
As for the renaissance of everyone’s favorite golden-colored, creme filled snack, it appears to be in safe and fully capable hands.
“Metropoulos has experience turning around financially troubled food brands. The firm’s food holdings include Pabst Blue Ribbon beer, and in the past have included Chef Boyardee canned pasta, Bumble Bee seafood, PAM cooking spray and Gulden’s Mustard, all of which it eventually sold to ConAgra Foods Inc.”
Late last year, when Hostess ceased production, the once-full shelves were left barren with sadness and disbelief. The delicious treats were gone. Forever. Faith in the world we all knew took a terrible stumble, leaving millions to ponder what the new snack companies had in store for us? Could they even compare to the Twinkie or the entire Hostess family for that matter?
Luckily, that new “world order” will not transpire. There is substantial uncertainty in our country, and around the globe, but at least we can still count on one of the best plastic wrapped snacks of all-time to return to its golden glory.
Greek yogurt. Greek street food. John Stamos. I suppose it’s not all that surprising a Greek business star would be the one at the top of the current food curve to rescue the beloved Twinkie.
As Twinkie the Kid might say, “Go ahead, make me again!”