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.
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.
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.
