Somewhere, Ed Wood is smiling.
Because in what can only be likened to a bad B-horror film, food abominations such as Twinkies and Ding Dongs, some of the most unhealthy snacks on the planet, have risen from the dead thanks to Apollo Global Management, LLC and Metropoulos & Co., who have agreed to purchase the Hostess, Dolly Madison, and Twinkies brands.
Hostess stopped making its cakes and breads in late November last year, and declared bankruptcy after it announced it was going out of business and closing its plants following years of financial hardship.
Apollo and Metropoulos submitted the only qualified bid by the deadline set by the Bankruptcy Court overseeing Hostess’ case. The purchase, which includes five bakeries and certain equipment, is headed to court March 19 for final approval.
“We are very pleased to have the opportunity to bring back ‘America’s favorite snack’. Apollo and I are proud to be associated with such an outstanding set of brands,” Dean Metropoulos, founder and CEO of Metropoulos & Co., said in a statement.
“This transaction will ensure the beloved Hostess snack cakes can continue to be enjoyed for years to come. We look forward to returning the iconic Hostess products, including Twinkies, Ding Dongs, and HoHos, to consumers as soon as possible. In addition, we are also pleased to be able to provide employment opportunities for many people in cities around America.”
Hostess was founded as Interstate Bakeries in 1930, but some of its best-known products, such as Wonder Bread is 90 years old and Drake’s cakes have been produced since 1888. The company was renamed Hostess Brands as it emerged from bankruptcy in 2009.
Twinkies Contain 14 of Top 20 U.S. Made Chemicals
Twinkies have a shelf life of 26 days, and contain, among other ingredients, Polysorbate 60, Red 40, mono and diglycerides and calcium sulfate — “a food-grade equivalent of plaster of Paris.”
Author Steve Ettlinger spent months interviewing chemical engineers, questioning industrial bakers and even traveling 1,600 feet below the surface of the Earth to see where Twinkies ingredients are mined.
Ettlinger claims many of the Twinkies’ ingredients are “more closely linked to rocks and petroleum than any of the four food groups.”
Ettlinger said he was astounded by what he learned — particularly that Twinkies’ ingredients are “manufactured with fourteen of the top twenty chemicals made in the U.S.”
“The unlikely food sub-ingredients sulfuric acid, ethylene, lime, and phosphoric acid top the list,” said Ettlinger.
“That industrial aspect of our food — and Twinkies are but one among tens of thousands of processed foods — would be less troubling if it were easier to still see where it all comes from.”