Mexican Bimbo May Save Hostess Twinkies
By Huffington Post Latino Voices
Grupo Bimbo, a Mexican company that is the world’s largest bread baker, might hold the key to saving the Twinkie from extinction in a Hostess liquidation.
Though other companies have shown interest in buying some of Hostess’ iconic brands, Bimbo might have the inside track, according to the Christian Science Monitor.
A $10 billion sales business, Bimbo has pushed its way into the baked-goods big leagues through smart acquisitions under the leadership of CEO Daniel Servitje Montull.
In 2010, Bimbo bought the North American fresh-baked unit of Sara Lee for $959 million, according to the Associated Press, and with it, well-known brands like Entenmann’s and Thomas’ English Muffins.
And this isn’t the first time Bimbo has tried to save Twinkies. Bimbo in conjunction with a few others made a bid for the Twinkie-maker during its first bankruptcy 2007, but Bimbo ultimately backed out, according to Forbes.
Bimbo’s access to cheap Mexican sugar might also give the company an upper hand. Hostess struggled with high sugar prices in the U.S., which were tied to trade tariffs, according to NBC…
This article was first published in Huffington Post Latino Voices.
[Photo by Christian Cable]