Dear Hostess Workers, How’s that Job Search Coming?
The buyout firms Apollo Global Management, LLC and Metropoulos & Co. have agreed to purchase the Hostess and Dolly Madison cake brands, including Twinkies. Recall that after the Hostess company closed its plants and declared bankruptcy after its unions went on strike in November.
The proposed buyout includes the brands, bakeries and some of the equipment but requires bankruptcy court approval before the sale will be final.
The new buyers promise to bring back the popular Hostess products including Twinkies, Ding Dongs, and HoHos. They also state that they will be providing jobs around the country. However, it is unknown how many of the 18,500 former Hostess workers will find work as the buyers plan to outsource distribution and produce snacks in existing bakeries causing union promises of replacement jobs to be in question.
Read more at ABC.com.