Hostess Brands

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Hostess Brands, LLC
TypePublic
NasdaqTWNK (Class A)
Russell 2000 Component
IndustryFood (bakery)
PredecessorOld HB
FoundedJune 2013; 8 years ago (2013-06)
HeadquartersLenexa, Kansas, United States
Key people
Jerry D. Kaminski (chairman of the board)
Andy Callahan (CEO)
ProductsBrands such as Hostess, Voortman, Dolly Madison, Donettes, Twinkies, CupCakes, Ding Dongs, Suzy Q's, HoHos, Zingers, Snoballs
Number of employees
2,000[1]
Websitehostessbrands.com

Hostess Brands is an American-based bakery company formed in June 2013. It owns several bakeries in the United States that produce snack cakes under the Hostess and Dolly Madison brand names and its Canadian subsidiary, Voortman Cookies Limited, produces wafers and cookies under the Voortman brand name. It is headquartered in Lenexa, Kansas, and was a venture originally started by Apollo Global Management and C. Dean Metropoulos and Company.[2] Currently, the main operating subsidiaries are Hostess Brands, LLC and Voortman Cookies Limited.

History[edit]

The company is separate from Old HB, which was formerly known as Interstate Bakeries and Hostess Brands, Inc. Old HB filed for Chapter 11 Bankruptcy and bankruptcy liquidation. Apollo and Metropoulos purchased certain cake business assets of Old HB through the bankruptcy court and ultimately creating the entity now known as Hostess Brands.

These assets included four bakeries, located in Columbus, Georgia; Emporia, Kansas; Indianapolis, Indiana; and Schiller Park, Illinois. The Schiller Park facility later closed in October 2014.[3][4]

In July 2016, Hostess announced it would be going public in an offering valuing the company at $2.3 billion.[5] The deal would see Apollo Global Management and C. Dean Metropoulos and Company become minority owners, with The Gores Group taking a majority ownership position in the firm.[6]

Instead of making an initial public offering, Gores acquired Hostess via a spin-off, under a special-purpose acquisition company process. Gores Holdings subsequently renamed itself Hostess Brands, Inc., changing its ticker symbol from GRSH to TWNK, after the Twinkie brand snack cake.[7][8]

In April 2018, the company announced that Andy Callahan would take over as CEO in May 2018.[9]

Mergers and Acquisitions[edit]

On June 14, 2016, Hostess acquired Superior Cake Products, making it the company's first acquisition since the Hostess brand returned in 2013.[10]

On February 1, 2018, Hostess acquired the Big Texas and the Cloverhill Bakery brands from Aryzta.[11]

On August 1, 2019, Hostess announced that it was selling Superior Cake Products to Sara Lee Frozen Bakery for $65 million.[12]

On December 2, 2019, Hostess announced that it was purchasing Voortman Cookies Limited, a Canadian company, from Swander Pace Capital for approximately US$320 million (C$425 million). The transaction closed in January of 2020.[13]

Products[edit]

Snack cakes, cookies and wafers.

For a list of Hostess Brands products, visit Hostess (snack cakes).

For a list of Voortman Cookies products, visit Voortman Cookies.

See Also[edit]

References[edit]

  1. ^ https://www.owler.com/company/hostessbrands
  2. ^ Choi, Candice (June 24, 2013). "Hostess says Twinkies will return to shelves July 15 with wider distribution". Star Tribune. Retrieved July 22, 2013.
  3. ^ Lobosco, Katie (August 20, 2014). "Twinkie bakery to close, putting 400 out of work". CNNMoney. Retrieved June 9, 2021.
  4. ^ "Hostess reopens bakeries for Twinkies, Ho Hos". USA TODAY. Retrieved June 9, 2021.
  5. ^ "Hostess acquires Superior Cake Products". www.foodbusinessnews.net. Retrieved June 9, 2021.
  6. ^ "Twinkies-Maker Hostess Plans A $2.3 Billion Stock Offering". NPR.org. Retrieved June 9, 2021.
  7. ^ "Hostess Brands Returns to Wall Street". Fortune. Retrieved June 9, 2021.
  8. ^ "Gores Holdings, Inc. Completes Acquisition of Hostess Brands, LLC, Maker of Twinkies®". www.businesswire.com. November 4, 2016. Retrieved June 9, 2021.
  9. ^ Al-Muslim, Aisha (April 12, 2018). "Hostess Brands Names New CEO". Wall Street Journal. ISSN 0099-9660. Retrieved June 9, 2021.
  10. ^ "Hostess acquires Superior Cake Products". www.foodbusinessnews.net. Retrieved June 9, 2021.
  11. ^ "Hostess acquires Big Texas and Cloverhill brands". Food Dive. Retrieved June 9, 2021.
  12. ^ "Hostess sells Superior Cake to Sara Lee for $65M". Food Dive. Retrieved June 9, 2021.
  13. ^ "Hostess completes acquisition of Voortman Cookies". www.bakingbusiness.com. Retrieved June 9, 2021.

External links[edit]