Snack | featured news

Hostess Brands won permission to sell off the last of its major cake and bread assets, raising total sale proceeds from the baking company's liquidation to about $860 million.

A bankruptcy judge on Tuesday approved the sale of Twinkies to a pair of investment firms, one of which has said it hopes to have the cakes back on shelves by summer. Hostess Brands Inc. is selling Twinkies, Ding Dongs, Ho Hos and other brands to Apollo Global Management and Metropoulos & Co. for $410 million. Evan Metropoulos, a principal of the latter firm, said in an interview that he wants to have the snack cakes back on shelves by June and that the brands could benefit from new flavors and other product extensions.

Hostess is moving ahead with plans to sell its Twinkies, and one of the new owners says the spongy cream-filled snacks could be back on shelves by summer.