Twinkie Maker's Push Into More Upscale Snacks Helps Fuel Rally
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Hostess Brands known for convenience-store fare like Twinkies and Ding Dongs, is making a successful foray into more upscale treats.
The company posted surprisingly strong earnings on Thursday, along with an upbeat forecast, sending the shares on their biggest rally ever. The snack maker credited the rollout of the Hostess Bakery Petites line, which has no artificial flavors or high-fructose corn syrup, for boosting the growth.
The latest results helped solidify a turnaround for an iconic American business. The company filed for bankruptcy in 2012 and was temporarily shut down, sending all of its employees packing. Hostess was reborn in a deal orchestrated by Apollo Global Management and C. Dean Metropoulos & Co., but with a fraction of its former workforce.
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