The current owner of Hostess Brands will announce later today an agreement to sell control of the company to an affiliate of the Gores Group for about $725 million. Four years ago Hostess's former parent filed for bankruptcy, but Twinkies and Ho Ho's survived. The snack cake business got snapped up by corporate turnaround firms, who did just that by arranging a sale to Gores Group.
These iconic treats have an unlimited shelf life, both in the market and in kids' lunch bags.
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