Twinkies Sale Approved by Judge

Tuesday, Mar 19, 2013  |  Updated 11:21 AM PDT
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Judge OKs Twinkie Sale

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A Greenwich company is behind the plan to save Twinkies.

A bankruptcy judge has approved the sale of Twinkies to a pair of investment firms.

Irving-based Hostess Brands Inc., who said late last year they were going out of business, is selling the spongy yellow cakes, along with other snacks including Ding Dongs and Ho Hos, to Apollo Global Management and Metropoulos & Co. for $410 million.

Metropoulos, which owns Pabst beer, has said it hopes to have the cakes back on shelves by this summer.

The judge also approved the sale of Wonder and other breads to Flowers Foods, which makes Tastykakes. Flowers will also get Nature's Pride, Butternut, Home Pride and Merita as part of the $360 million deal.

The sale of Beefsteak, a regional bread brand, to Grupo Bimbo for $31.9 million was also approved.

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