Hostess Brands has officially announced the companies that will own the rights to its products Monday, news sources report.
Hostess Brands announced that more of their products would be dispersed between McKee Foods, owners of Little Debbie snacks, and United States Bakery, said the New York Times. McKee Foods will own the rights to Hostess Brands sweets such as, Ring Dings, Yodels, and Devil Dogs for $27.5 million. While United States Bakery will own the rights to Hostess Brands' bread products, news sources report.
This official announcement did not contain any information about the fate of Hostess Brands' popular Twinkie. Though Hostess Brands have not officially reported that Twinkies may be sold to either Apollo Global Management or C. Dean Metropoulos & Co., sources from CNN confirm that "it's likely." Hostess Brands must consult with federal bankruptcy courts in order for an arrangement between these companies to occur.