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The Hostess family: Twinkies, Golden Cup Cakes and Zingers. Hostess Brands Inc. will liquidate its business after striking workers with the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union did not come to an agreement with company management.
Next week may be Black Friday but sweets lovers across the nation hung their heads in sorrow on a dark Friday yesterday as Hostess announced they would cease making their line of products, which include the iconic Twinkies brand, because of the Bakers Union Strike.
But now as the brand heads towards liquidating and selling off their assets, a Mexican company may be angling to resurrect the golden Twinkies.
Read the original story at NBC Latino
According to the Christian Science Monitor, while food producers ConAgra and Flowers Food, the American company behind Nature Valley granola, have expressed interest along with Little Debbie baker McKee Foods, Mexico’s Grupo Bimbo may hold the inside track.
Grupo Bimbo is the world’s largest bread-baking firm, which already owns parts of Sara Lee, Entenmann’s and Thomas English Muffins and previously made what was considered a low-ball offer of $580 million a few years ago, Forbes reports. Now Hostess may only be worth $135 million.
Economists say high sugar prices tied to US trade tariffs were a big reason Hostess was struggling, but a Mexican company could be a lifeline for Twinkies because it would be able to take advantage of access to lower-priced sugar in Mexico.
While Hostess was clearly struggling, analysts believed Grupo Bimbo had an eye on them since the early 2000s because they saw Hostess as a key ingredient for North American expansion with delivery routes that penetrated across the country into convenience stores, gas stations and grocery markets, according to Forbes.
Daniel Servitje Montull runs Grupo Bimbo, which was founded by his family in 1954. His family is worth $4 billion.
Servitje Montull, has already worked magic before, taking on Mexico’s tortilla market and positioning white bread in Latin America.
If Grupo Bimbo pulls off a deal with Hostess for Twinkies, his next challenge will be resurrecting an American favorite.
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Leave a Comment:
The funny thing is how all you idiots seem to miss the fact that this company went down due to the absurd US policy of keeping sugar prices higher than anywhere else in the world-ARTIFICIALLY.
Just like Milk.
Finally someone who read the article and gets it.
Sad! My father in law worked there for many years before retiring. I will not buy from a Mexican remake want a be of hostess co. Enough is enough !!!!!
I'm sure you will because, im sure that you are just another lazy fat ass that loves sugar
Sure you will. Like most Americans, you probably didn't already know that Sara Lee, Entemann's and Thomas brands were already owned by this company. From what I can tell, Thomas is more popular than ever.
Go visit their websitew and see all the brands they own. Ever eat a thomas english muffin..or anything Thomas?? How bout Sara Lee cakes..or a ball park frank?? cause they own all them and more.
Do the Mexicans that run this company know what the definition of a bimbo is?
I can see the label: Made by a bunch of Bimbos in Mexico.
Priceless.
Don't be stupid i wouldn't insult my future boss....LOL,, it will be true in a few years...LOL..
Robert John, you are such an idiot. I'd expect my 10 year old to make a comment like that. It means to binge. Since they sell mostly sweets, it's another way of saying snacks, desserts, sweets, treats, etc.. They were not talking about your wife when they decided to name the company.
I'm sure they do. In Spanish bimbo means "little bear." Not their fault you have a dirty mind.
Kimberly,
Lighten up & stop calling people names just because they don't fit your PC filter; yes, I read some of
your other comments about different stories.
If you can’t fathom a little levity; well then, you know where the border is, right?
Hopefully we can stop hearing from the anti-union crowd for awhile as the article clearly states the U.S. trade agreement as the culprite of Hostess demise. While poor management has been kicked around in other circles as a likely culprit to the companies ails. So please quit blaming the unions. Historicaly the nation was far more prospurose when unions were stronger in this nation, and have been on a down hill slide since the beloved Reagan administrations infamous trickle down economics, which was named well as it only helped the rich, turning the populus against the unions and their fellow Americans in favor of corporations and the rich. Read and understand your history before you condem the unions role in this nation concerning fair working conditions and wages in this country. As if you do you are the corpoates puppet and fools.
All but one union, including the Teamsters, voted to accept the new contract offered by management. Only the bakers union rejected it and then went on strike. Teamsters, who rarely ever cross picket lines, did so in an attempt to try and keep the company afloat. It was the idiots in the Baker's Union who were the problem.
Yep, lets put those tarriff in place to protect us from those 'Evil" sugar lords from central and south America, while we open up that FREE and FAIR trade with China {wink...wink...wink...}
and Tim...Please explain to me and any of the rest of us that are intrested, how the Trickle down 'economics" of the Regan years helped the rich and condemmed the unions?..If it ONLY helped the Rich and the majority of us are POOR, then WHY would us poor folks turn on the unions that are supposedly our friends and side with the evil rich people against them??..if anything it would have the opposite affect wouldnt it?..It would STRENGTHEN the Unions..So maybe I can learn something
Blade,
Historically this country enjoyed more economic success while unions were at their peak of popularity in this country. Unfortunately the fall of unions in the private sector has not lead to the economic gains promised under the Reagan administration's trickle down economics. Since this era that Americans were convinced to turn against unionization and trust in the captain of industry we have seen a steady decline of American workers wages, spiraling inflation as well as a steady increase of home foreclosure's. All indications of an ailing economy. While you still have more stability in positions that are union suc as in County, City, State, and Federal Employment. All said there are many things I personally liked about Ronald Regan and his administration, however I do not believe his trickle down economics policy and his push abondone unions in this country was necessarily sound.
I guess now everytime you eat a twinkie you will think of some poor mexican kid who worked himself to death making it. Aww what progress the unions are making
Damn Straight !!!
Fat, greedy business people run their company into the ground recieving their generous tax welfare then sell out to the mexicans so we get products made by highly underpaid labor in sweatshop conditions probably with increased incidents of food contamination we constantly see in the news. Eat up! You get what you deserve!
The union ran the company into the ground. Like the auto industry. Is there time for an Obama twinkie bailout?
You're sure devoid of facts Payne, the bakeries are here in the U.S.
Are you still whining Blamo. Its ok for CEO's to make millions sitting on their ass right. Unions all the way baby.
Have you seen the waistlines and salaries of the union bosses ?
Union membership is now down to something like 10-11%. There is a reason for that. Unions have not been necessary for well over 60 years.
7% private sector. Public is higher and rising.
Yet economicaly home forclosures are at their peak in this country besides, there is clearly a wider financal gap between the rich and the rest of the nation populist then ever before, except for those that are unionized such as county, city, state and federal employees, as one example.
Blah blah blah Repupublicans are for the rich and the saintly Democrats are for the poor same old rhetoric
To Mike424215
I really hate to be the one to burst your bubble, but there are ACTUALLY -RICH- DEMOCRATS that run companies too.. In fact, of the TOP 20 richest people in America, 75% are DEMOCRATS..
Warren Buffett..every heard of him?
Bill Gates.. household name perhapse?
Larry Ellison..Well what do you know?
The Walton gang....Runs those pesky little china outlet stores we've ALL grown to love..
In terms of combined wealth of the Richest Democrats and Republicans, the DEMOCRATS have a COMBINED total assets worth of $263.1 BILLION compaired to "only" $143.9 BILLION for the republicans..
So please..Just remember when you rant again about Republican ownership of companies, just note that there are probably WAY more owners that are Democrat than Republicans..And likewise, there are just as many slave labor wanting Democrats as they are Republicans..Its called GREED, and by no means does the Republicans have a Cod-lock on that department..So just remember the next time you hear your politicans talking about those "evil" rich people, they are more than likely talking about DEMOCRATS..
Probably some scum sucking slave labor wanting Republican..So Warren is safe..
What? No. Sources?
Bill Gates seems to lean left, as does Warren Buffet. Ellison seems moderate. The Waltons may have been Democrats when the party was mostly southern populist. Only a generation ago, you'd be hard pressed to find a Republican in The South. Lincoln was a Republican, as the Repulicans like to remind us so often, and southerners don't take too kindly to them Union folk. Oh how times have changed.
A quick glance at political contributions reveals that Gates is likely an Independent, but donates heavily to Democrats as well. Buffet is likely a Democrat, but also shares the wealth with Independents. Ellison slightly favors Republicans, but likes to diversify his investments. The Waltons seem to be solidly in the Red, at least politically. Too bad we can't say the same for their @!$%#ty stores.
LOL,, it looks like Mexicans will be the ones giving jobs to Whites now..now that is funny because is true...LOL.
Are the products you all refer to-the bimbo products-are they made in the US or are they imported from mexico-I'm sure I've eaten produce from mexico, but I have the opportunity to wash the produce carefully.
The bakeries are here on home soil.
http://www.bimbobakeriesusa.com/
I hope the Mexicans put some pot in the Twinkies so you can cure the munchies at the same time. The union reps will not have to worry since they still get their paychecks. If a baker wants $25.00 bucks an hour I need a raise at my house. What a bunch of dummies believing in that lying Obama but guess what, you wanted it, you voted for it and YOU GOT IT BABYYYY.
The Wall Street hedge fund managers who run the company have squeezed every cent out of Hostess for eight years. And they’ve put their friends with no experience in the baking industry in high-level management positions.
What’s happening here is a classic Bain Capital-style assault—blame the little guy to cover the greedy corporate policies that are gutting the middle class.
Crony capitalism and poor management drove Hostess into the ground, not the workers who are now paying the price. In this struggling economy, the greedy corporate executives are willing to let 18,000 people lose their jobs—just so they can pad their pockets.
Hostess' executives are now blaming workers who’ve offered their company multiple concessions and want it to succeed. This is what’s wrecking our country.
Workers have borne the brunt of bad decision-making by executives who didn’t know anything about the baking business. And they’re the ones getting fired?
The executives did not go on strike, the union slugs did. The workers esssentially quit.
If Mexican companies buy the Hostess brand, that will create more jobs in Mexico. If the unions keep demanding more and more benefits that US companies cannot provide, then more and more US companies will close.
Won't it be funny when the US has no jobs and we have to start crossing the border for jobs in Mexico???
soon enough it will be soon enough..
i can see it now, 'yes ma'am, i'll take the bimbo hoho's and ding dong's.' lolol
My first thought when hearing about this and that it was the result of a labor dispute was that the federal government would step in and appoint a mediator to resolve it. This has been done in the past to resolve labor issues. i think it is to late now for that option though. Obama probably could still do what Reagan did to the air traffic controllers and make the union go back to work.
Great! Legalize pot inna few states & chunk 'da Twinkies out!! Way to go USA, Ya made everyones DAY!!!
means more jobs goes over seas to mexico while at the same time mexicans are comeing over here iliegaly takeing our jobs away from us while factorys and other jobs are being moved to mexico i think as they are crossing the border iliegaly should be shot on sight why waist more tax payers money on feeding and deporting them a bullet cost less
Anybody notice how Mrs. Baird's bread quality has dropped and the price has risen in recent years? They were bought out by Bimbo as well. I wont be buying any of their mexican-owned half-assed products. What a shame.
What kind of idiot believes that every business transaction in America has some kind of ties to anything other than the way the business has conducted itself ? Your boy Mitt lost, your boy G.W. screwed up the economy and Hostess was more than likely bought up by Bain Capital that is infamous for union busting and gutting profitable companies then selling the carcass to the highest bidder. Get over your whiny little selves and face some reality for a change ! Just be happy you'll be able to get your damned Twinkies so you can continue to grow fat and stupid !
it just goes to show just how stupid unions workers are .......... they would rather lose their jobs just before x-mas and go on unemployment. and then who the hell would want to hire their lazy asses.not many...unions have left a long list of companies that they have broken.......and the shame of it is they are actually proud of it.....give unions time and they will make themselfs extinct...HOORAY !!!!!!!!!!!!!!!!!!!!!!!i can hardly wait for that day to come.........extinction isnt it grand..............................
Americans really are stupid. Does anyone really know how much America rely on Mexico?? Have any of you actually studied business?? Mexico buys more American items than all other Latin countries combined. That means we all rely on Mexico. Mexico is the #1 most important trading partner with the US than ANY other country. Yes, Mexico is notorious for drugs, but the main reason for it is because it's next to the US. The drugs come from other countries and not just Mexico and then get smuggled through. Many illegals are not Mexican, but come from other Latin countries and cross through Mexico into the US. Many are even Middle Eastern (don't tell me you're all that stupid not to know this.) I am NOT from Mexico (Irish/Spaniard), but as a business woman as well as an educated one, I can't help but to have a zero tolerance when it comes to stupidity.
"The US Chamber of Commerce estimated that in 2010 United States-Mexico trade directly supported nearly six million jobs in the United States." - Council of American Ambassadors
FYI-Bimbo's bakeries are made not only in the Mexico, but the US as well, meaning that they will need to hire more of your dumb asses. Once again, American's drop the ball and another country has to wipe it's ass.
I would starve to death before I would join a union.
Glad to see another bunch of lazy union employees unemployed.
I went to a GM plant in Lansing because they wanted me to teach them how to maintain their ... machines.
After waiting two hours a huge fat man came on a fancy golf cart and told me they did not know anything about ... machines, they did not want to know anything about their ... machines and I was not going to teach them anything about their ... machines. I just walked out!
Will never buy a union made car either!
Like you, I won't buy anything made by a union or transported by a union. This is why I can buy nothing and have made my computer by chipping it out of rock with another rock. I rock, huh?
Well you may not want to buy a Japanese car then, because the Japanese workers have been trying to unionize for better wages and working conditions for sometime. Their attempts have been futile though as company's such as Sony among others simply moved their operations to other nations.
Right, 2conservative...Want to buy a bridge in Texas.. Anyone believe that bunk of bull@!$%# is an idiot. You Repukes and Tea Bags are really bad at telling the truth, you need to get a new line of work. LMAO