NEW YORK The new owner of Hostess Brands Inc's HTBRS.UL snack cakes hopes to have Twinkies back on U.S. store shelves by this summer, according to a member of the purchasing group.
"Our family is thrilled to have the opportunity to reestablish these iconic brands with new creative marketing ideas and renewed sales efforts and investment," Daren Metropoulos, a principal at his family's private equity firm, told Reuters in an email on Tuesday.
"We look forward to having America's favorite snacks back on the shelf by this summer."
Daren's father, Dean Metropoulos, teamed up with Apollo Global Management (APO.N) to offer $410 million for Twinkies and other snack cakes. Their offer was to serve as the minimum offer for the business but no other bidders emerged.
News of their winning offer was revealed late on Monday in a court filing.
(Reporting By Martinne Geller in New York)
Irish cabinet fails to agree on Apple appeal, to meet again: source
DUBLIN Ireland's cabinet could not agree on Wednesday on whether to appeal a European Commission ruling against Dublin's tax dealings with Apple and will meet for further talks later this week, a government source told Reuters.
U.S. pending home sales jump in July
WASHINGTON Contracts to buy previously owned U.S. homes surged in July after two straight months of declines as demand rose almost across the board, suggesting the housing market remains on solid ground despite last month's drop in home resales.
Fed's Evans, citing slow growth, says low U.S. rates are here to stay
BEIJING Chicago Federal Reserve Bank President Charles Evans on Wednesday said he is increasingly convinced that U.S. economic growth has slowed permanently, a situation that will keep U.S. interest rates low for a long time ahead.