Greenwich Billionaire's Deal With Hostess Approved

By LeAnne Gendreau
|  Tuesday, Mar 19, 2013  |  Updated 12:11 PM EDT
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A Greenwich company is behind the plan to save Twinkies.

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It looks like Twinkies will be back on supermarket shelves by this summer, thanks to a Greenwich billionaire and his sons. 

A bankruptcy judge has approved the sale of Hostess Brands' Twinkies, Ding Dongs and Ho Hos, to Apollo Global Management and Greenwich-based Metropoulos & Co. for $410 million.

The people behind Metropoulos & Co. are C. Dean Metropoulos, of Greenwich, and his firm at part of that deal and his sons, Daren and Evan.

Metropoulos & Co., based in Greenwich, and Apollo Global Management, LLC had agreed to purchase the brands, five bakeries and some equipment, and were just waiting on the approval from U.S. Bankruptcy Court. 

The Metropoulos also bought Pabst Brewing Company and Daren Tweeted about the deal, combining the two iconic brands in a clever graphic.

The bankruptcy 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 deal.
 


 

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