Twinkies May Survive As Mexican Import
A number of companies have come forward to rescue the Twinkie brand.
“I think we’ll find buyers,” CEO Gregory F. Rayburn told ABC News on Sunday. ”A few have surfaced already since Friday expressing interest in the brand to acquire them.”
Con Agra and Flowers Foods are among the companies that have expressed interest in Hostess, but Mexican company El Grupo Bimbo may have an edge, the Christian Science Monitor reported Saturday. Grupo Bimbo, headed by Mexican billionaire Daniel Servitje Montull, is the largest bread-baking company in the world.
Economists say part of the reason Hostess struggled was due to high sugar tariffs meant to protect local producers, the Monitor reported. Grupo Bimbo could take advantage of lower sugar prices in Mexico.