Who will save Hostess Brands? That’s the question that’s been circulating among investors and media outlets. The 82-year old Hostess, which makes Twinkies, Ding Dongs, Ho Hos and Wonder Bread, is looking for a lifeline after filing with a U.S. bankruptcy court last week to go out of business. Hostess is firing more than 18,000 employees after a week long strike by its baker’s union. Adding to the doom-and-gloom is a notice on the company’s website that says, “Hostess Brands is Closed.“
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Sun Capital Partners is in talks to sell weight-loss bar maker Elan Nutrition to ConAgra, according to an FTC filing. No financial information was disclosed, and a source says that the deal is not yet finalized.
Sun sponsored a leveraged buyout of Elan Nutrition — then known as Five Star Brands — back in May 2003. The turnaround firm’s initial outlay was around $18 million, including funds for capacity improvements that enabled Elan to begin producing upwards of 300 million bars