Sun Capital Wants To Buy Hostess
The news earlier this week that Hostess Brands, Inc. was closing and all of it’s 18,500 workers would be losing their jobs was certainly bad news. Many Americans rushed to buy the last of the Twinkies, Suzy Q’s and Ding Dongs off of store shelves. It looked like a part of Americana was fading into our past.
However, it might not be the end of Hostess after all. Private equity firm Sun Capital Partners wants to buy bankrupt bakery Hostess Brands Inc. The proposal would be to operate Hostess as a going concern, including reopening factories and continuing representation of Hostess workers. Sun Capital co-CEO Marc Leder thinks that Hostess would be a relative easy company to restart due to the fact that most of it’s vendors have empty shelves where Hostess products used to be.
Sun Capital is based in Boca Raton, Florida and focuses on companies with significant challenges, including bankruptcy.