Two private equity firms bought Hostess Brands in 2013: Apollo Group Management and Metropoulos & Company. These companies purchased Hostess for a total of $410 million, respectively. This purchase specifically covered the part of the company known as the snack-cake division, which included the popular Twinkie snack.
As of January 2012, Hostess Brands filed for Chapter 11 bankruptcy. However, Hostess Brands snack cakes found themselves back on store shelves and in vending machines in July 2013, after only a short break. The buyers, Metropoulos & Company, have acquired several other well-known American brands, such as Chef Boyardee and Pabst Blue Ribbon.