nucklehead Posted November 19, 2012 Share Posted November 19, 2012 I don't think I've ever had a Twinkee. Might have, just can't recall ever having one. Do they sell them up here? Link to comment Share on other sites More sharing options...
ronthecivil Posted November 19, 2012 Share Posted November 19, 2012 Anyone want to chip in and buy the rights? Link to comment Share on other sites More sharing options...
The Hornet Posted November 19, 2012 Author Share Posted November 19, 2012 Just read this on CNN. Could this be why Hostess is back? Hostess may have a buyer. FORTUNE -- Private equity firm Sun Capital Partners wants to buy bankrupt bakery Hostess Brands Inc., Fortune has learned. The proposal would be to operate Hostess as a going concern, including reopening the shuttered factories and continuing union representation of Hostess workers. Sun Capital privately expressed interest in acquiring Hostess earlier this year, but the bakery's creditors chose for an alternate reorganization plan that ultimately failed. Following Friday's liquidation, Sun reengaged by contacting Hostess advisor Perella Weinberg Partners. It also plans to contact the relevant labor unions. "I think that we could offer a slightly better, more labor-friendly deal than what was on the table last week," says Sun co-CEO Marc Leder, in an interview with Fortune. "We also think that one point the unions have made is that there hasn't been a great amount of reinvestment in the business. We've found that investing new capital into companies like this can be very positive for brand, people and profitability... We would look to invest in newer, more modern, manufacturing assets that would enable the company to become more productive and to innovate."" MORE: The end of Hostess Sun's earlier proposal would have maintained the existing lenders -- led by Silver Point Capital and Monarch Alternative Capital -- and would expect to do the same this time around. But Sun also believes that it could "make the company immediately profitable on an EBITDA basis," which could open the door for the current lenders to exit and new ones to step in. Leder also thinks that Hostess would be a relatively easy company to restart, particularly given that most of its vendors still have empty shelves where Hostess products used to reside. Moreover, he doesn't buy the argument that Hostess is a long-term loser due to the changing American diet: MORE: Don't worry, Twinkies will survive "Do you see M&Ms or Mars having any trouble? Or Haagen Dazs or Godiva? People like to indulge in desserts. Obviously you don't eat only Twinkies for breakfast, lunch and dinner, but people love them as a snack." Sun Capital is based in Boca Raton, Fla. and focuses on companies with significant challenges (including those in bankruptcy). It currently is in the process of raising $3 billion for its sixth fund. Notable portfolio companies in the food and beverage space include Contessa, Creekstone Farms and Harry's Fresh Foods. Link to comment Share on other sites More sharing options...
Spitfire_Spiky Posted November 19, 2012 Share Posted November 19, 2012 Sad to hear but someone will buy up the Twinkie brand simply because it is so marketable. Link to comment Share on other sites More sharing options...
red&white Posted November 19, 2012 Share Posted November 19, 2012 Good, I hope the striking workers have NOTHING to fall back on either. Link to comment Share on other sites More sharing options...
nucklehead Posted November 19, 2012 Share Posted November 19, 2012 Sad to hear but someone will buy up the Twinkie brand simply because it is so marketable. Link to comment Share on other sites More sharing options...
Common sense Posted November 19, 2012 Share Posted November 19, 2012 The unions can't be blamed for this. There have been huge differences in diet and consumer preferences down in the states and Hostess has completely failed to adapt. Americans aren't eating wonder bread as a dinner side dish like they used to and with the popularity of yogurt and energy bars now, they aren't limited to toast as a quick and easy breakfast anymore. Add that to the reliance of nostalgia,a failure in marketing and a higher health consciousness, hostess didn't stand a chance with or without unions. Completely blaming unions for this is both ignorant and irresponsible. Link to comment Share on other sites More sharing options...
Wetcoaster Posted November 19, 2012 Share Posted November 19, 2012 The bankruptcy court judge was quite puzzled by the way in which the union acted in going on strike without even filing an objection to the offer or attempting the "critical step" of mediation. It now seems that mediation will begin on Tuesday. Twinkies won't die that easily after all. Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the company won't go out of business just yet. The news came Monday after Hostess moved to liquidate and sell off its assets in bankruptcy court citing a crippling strike last week. The bankruptcy judge hearing the case said Monday that the parties haven't gone through the critical step of mediation and asked the lawyer for the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, which has been on strike on Nov. 9, to ask his client, who wasn't present, if the union would agree to participate. The judge noted that the bakery union went on strike after rejecting the company's latest contract offer, even though it never filed an objection to it. Last ditch effort "Many people, myself included, have serious questions as to the logic behind this strike," said Judge Robert Drain, who heard the case in the U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y. "Not to have gone through that step leaves a huge question mark in this case." Hostess and the union are expected to begin the mediation process on Tuesday. http://www.cbc.ca/news/business/story/2012/11/19/hostess-twinkie.html Link to comment Share on other sites More sharing options...
red&white Posted November 20, 2012 Share Posted November 20, 2012 Is that why 1/3 of Americans are (still) classified as obese? - http://www.cdc.gov/o...data/adult.html The union said "screw you" to management and went on strike, not the other way around with a lockout. If union thinks they can do a better job in managing workers, increasing wages and benefits, as well as increasing revenue, then they should buy the brand and take it over. What better way to show management you deserve better than to do it yourself? Link to comment Share on other sites More sharing options...
Common sense Posted November 20, 2012 Share Posted November 20, 2012 Twinkies and Wonder Bread had much higher sales when a lower percentage of Americans were considered obese so that figure is irrelevant. Like I said, there is more choice for Americans. Whatever companies have owned Wonder Bread, Twinkies and all the rest haven't kept up to the times. The employees had already accepted wage and benefit concessions a few years ago after a previous bankruptcy, yet Hostess is still drowning in close to $1 billion in debt. The current model they are operating on won't work no matter what the employees are making. If they accept these latest wage concessions all they are doing is prolonging the inevitable. Link to comment Share on other sites More sharing options...
red&white Posted November 21, 2012 Share Posted November 21, 2012 With the amount of liability Hostess has and how much new wage concessions would save, it would be like putting a band aid on a gun shot wound. The numbers tell the story and at the end of the day mismanagement is what killed Twinkies plain and simple. Link to comment Share on other sites More sharing options...
Mr. White Posted November 21, 2012 Share Posted November 21, 2012 Or modified twinkies using cannabis butter. Link to comment Share on other sites More sharing options...
-DLC- Posted November 21, 2012 Share Posted November 21, 2012 Haven't eaten any of their products in years. It's all my fault Yep, after that surge as a kid, I too contributed to the downfall. But, never fear, this guy's got us covered... Link to comment Share on other sites More sharing options...
ronthecivil Posted November 21, 2012 Share Posted November 21, 2012 Or modified twinkies using cannabis butter. Link to comment Share on other sites More sharing options...
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