Hostess Brands Inc is purportedly exploring a sale after fielding takeover interest from major snack producers, including PepsiCo, Mondelez, General Mills and Hershey.
The maker of America’s No. 1 cupcake, mini doughnut and sugar-free cookie brands reported second-quarter revenue of $340.5m, exceeding Wall Street forecasts.
The North American sweet snacks giant rewarded nearly 2,000 bakery and distribution centre employees for their hard work to get products out during the pandemic.
The Twinkies and Ding Dongs maker posted better-than-expected results for the third quarter, with higher volume, a favourable product mix, pricing and productivity and a higher volume offsetting rising inflation.
Dean Metropoulos – punted as the man to have rescued the Hostess brand from extinction – has notified the company that he will resign as chairman of the Board of Directors at the end of 2020 to pursue other commitments.
The Twinkies maker has partnered with celebrity chef George Duran and micro-influencers to create a devilishly good snacking experience to make this year’s Halloween one to remember, despite social distancing measures impacting festivities.
Perfetti Van Melle is taking centre stage at the upcoming Festival of Licensing to reveal the secret behind Chupa Chups’ licensing success and the importance of design as a tool for reinforcing brand relevance and uniqueness.
Hostess Brands has topped consensus revenue estimates four times over the past four quarters, again surpassing the Zachs Consensus Estimate by 1.38% for the quarter ended June 2020.
Hostess Brands, which owns Twinkies, has entered into an agreement to acquire Voortman from private-equity firm Swander Pace Capital, expected to be completed in January 2020.
Twinkies and Wonder Bread maker Hostess Brands has today filed a motion with the US Bankruptcy Court for permission to close the business and sell all assets.
