Here's a squib from the New York Times this week:
"Hostess Brands, has named a pair of private equity firms, Apollo Global Management and C. Dean Metropoulos & Company, as the collective lead bidder for Twinkies and several other snack brands, two people briefed on the matter said on Tuesday. Apollo and Metropoulos appear to have beaten out a sizable number of competitors for the iconic snack brand, including Grupo Bimbo of Mexico, the maker of Arnolds bread.
"But as the “stalking horse” bidder, with an expected offer of some $400 million, the pair will have largely set a floor for a court-supervised auction that is expected to take place within weeks. But Twinkies have long been regarded as the bankrupt baker’s crown jewel, having drawn scores of potential buyers over the last two months. News that Hostess was shutting down its factories prompted a burst of nostalgia for the cakes."
Grupo Bimbo? Twinkies as crown jewels? You can't make this stuff up.
Same goes for investment bankers dealing in junk food instead of junk bonds.
A PBR and a snack cake. Sweet.
Related story: Twinkie taste test.