Hostess Brands is going out of business and it’s possible the company’s most iconic sugary confection – Twinkies -- could be bought by a Mexican business.
Mexico’s Grupo Bimbo, the world's largest bread-baking firm, could be on the short list for acquiring some of the Texas-based Hostess’ foodstuffs, according to Forbes. Grupo Bimbo already owns parts of Sara Lee, Entenmann’s and Thomas English Muffins.
Others firms that could be in the running include ConAgra and Flowers Food, the American company behind Nature Valley granola, as well as McKee Foods, baker of Little Debbie snack cakes, the Christian Science Monitor reports.
Pepperidge Farm, a division of Campbell Soup Co., is also considered a prospective buyer, analysts told Fox Business.
The Monitor reports Bimbo has already been present around the bankruptcy proceedings that have haunted Hostess for a decade, in a bid to further expand its North American portfolio and pad its $4 billion net worth.more