Hostess Brands
 | |
| Public | |
| Traded as | NASDAQ: TWNK |
| Industry | Food (bakery) |
| Predecessor | Old HB |
| Founded | June 2013 |
| Headquarters | Kansas City, Missouri, United States |
Key people |
Dean Metropoulos (Executive Chairman) William Toler (President and CEO) |
| Products | Brands such as Hostess and Dolly Madison |
| Owner |
C. Dean Metropoulos and Co. Apollo Global Management |
| Website |
www |
Hostess Brands, Inc. is a bakery company formed in June 2013. It owns several bakeries in the United States that produce snack cakes under the Hostess and Dolly Madison brand names. It is headquartered in Kansas City, Missouri and is 50% owned by HB Holdings, LLC, a venture set up by Apollo Global Management and C. Dean Metropoulos and Company.[1]
The company is separate from Old HB, which was formerly known as Hostess Brands, Inc. from 2009–2013. Old HB is currently under liquidation and sold its cake business to Apollo and Metropoulos creating the current Hostess Brands. The current Hostess Brands was formed as New HB Acquisition, LLC to acquire the cake business (Hostess and Dolly Madison brands) of Hostess Brands, Inc. Following the conclusion of the sale, Hostess Brands, Inc. became Old HB, Inc. and New HB Acquisition became Hostess Brands, LLC.[2]
In June 2013, Hostess Brands retained the same public relations and advertising firms that had previously worked for Old HB. Bernstein-Rein in Kansas City, Missouri' will do Hostess Brands' advertising; LAK Public Relations in New York will handle its public relations for the return of Hostess products.[3]
The company officially restarted production of snack cakes on June 6, 2013, with products officially going on sale on July 15, 2013.[1]
Of the eleven bakeries operated by Old HB, Hostess Brands retained four, in Columbus, Georgia; Emporia, Kansas; Indianapolis, Indiana and Schiller Park, Illinois.[4] The Schiller Park facility later closed, in October 2014.[5][6]
In the summer of 2015, Hostess began producing Hostess brand bread and buns. The company, which previously owned Wonder Bread, never produced bread under its own brand name. The new Hostess bread items are carried at certain drug stores and dollar stores.[7]
In July 2016, Hostess announced it would be going public in an offering valuing the company at $2.3 billion.[8] The deal would see Apollo Global Management and C. Dean Metropoulos and Company become minority owners, with The Gores Group taking a majority ownership position in the firm.[9]
On November 7, 2016, Hostess Brands (NASDAQ: TWNK) began trading on NASDAQ after majority shareholder Gores Holdings (NASDAQ: GRSH) completed its purchase through the special-purpose acquisition company (SPAC) process.[10]
References
- 1 2 Choi, Candice (June 24, 2013). "Hostess says Twinkies will return to shelves July 15 with wider distribution". Star Tribune. Retrieved July 22, 2013.
- ↑ "Business Name History". Missouri Secretary of State. July 22, 2013. Retrieved July 22, 2013.
- ↑ Elliott, Stuart (June 30, 2013). "News From the Advertising Industry (Accounts)". New York Times. Retrieved July 24, 2013.
- ↑ Bomkamp, Samantha; Cancino, Alejandra (August 20, 2014). "Hostess Twinkie plant in Schiller Park closes after 84 years". Chicago Tribune.
- ↑ Lobosco, Katie (August 20, 2014). "Twinkie bakery to close, putting 400 out of work". CNN Money.
- ↑ "Hostess Bakery plant in Schiller Park closes". ABC 7 Chicago. October 19, 2014.
- ↑ http://www.bakingbusiness.com/articles/news_home/Business/2015/06/Metropoulos_moves_Hostess_into.aspx?ID=%7BA6282207-02DA-4204-8E1E-77641AEB68F2%7D
- ↑ Chappell, Bill (5 July 2016). "Twinkies-Maker Hostess Plans A $2.3 Billion Stock Offering". NPR. Retrieved 5 July 2016.
- ↑ Cyran, Ryan (5 July 2016). "A Tasty, High-Calorie Deal for Hostess Brands". New York Times. Retrieved 5 July 2016.
- ↑ "Hostess Brands expected to start trading Monday". Seeking Alpha. 5 November 2016. Retrieved 26 November 2016.