Hello Devil Dog fans! All is not lost. (courtesy of Fox News http://www.foxnews.com/leisure/2013/03/15/devil-dogs-are-coming-back/)
Hostess is moving forward with the sale of Devil Dogs, Yankee Doodles and Yodels to the maker of Little Debbie cakes.
The bankrupt company says it picked McKee Foods as the buyer for the Drake’s cakes after nobody stepped forward with a qualifying bid to top its $27.5 million offer.
The auction scheduled for Friday will be canceled as a result, according to a filing in bankruptcy court. A hearing to approve the sale is scheduled for April 9.
McKee Foods, based in Collegedale, Tenn., isn’t projecting when it plans to have the cakes back on shelves.
“McKee Foods is a family-owned bakery, similar to how Drake’s was established as a family bakery 125 years ago,” CEO Mike McKee noted in a statement. “We have generations of experience in baking, and we will strive to bake the Drake’s cakes, not just for taste and quality, but also to deliver on the memories of the loyal Drake’s fans.”
Separately, Metropoulos & Co., which is teaming up with Apollo Global Management to buy Twinkies and other Hostess cakes such as CupCakes, Ding Dongs and Ho Hos, said it hopes to have the cakes back on shelves by this summer. Metropoulos owns Pabst beer. Apollo’s investments include fast-food chains Carl’s Jr. and Hardee’s.
Maybe they’ll ship to the West Coast now…. Cheating is imminent.