RDA Happenings May 2015
Posted on May 1, 2015 – By Emporia RDA
A footnote to the Hostess Brands Ribbon Cutting on April 8th. We knew a reporter, Steven Bertoni, with Forbes Magazine attended the Ribbon Cutting and interviewed Dean Metropoulos and Andrew Jhawar.
His article entitled, “Twinkie’s Miracle Comeback: The untold, Inside Story of a $2 Billion Feast” was posted on the internet in mid-April the Forbes print version was the May 4, 2015 edition. If you would like to read the article in its entirety, here is the link to the Forbes website: http://www.forbes.com/sites/stevenbertoni/2015/04/15/twinkie-billion-dollar-comeback-hostess-metropoulos-apollo-jhawar/
In early February 2013 when we learned that Apollo Global Management and C. Dean Metropoulos & Company submitted a bid to the New York Federal Bankruptcy Court, the RDA communicated via email with Andrew Jhawar’s office. Within 90 minutes I received a telephone call from Mike Cramer who indi-cated that they plan to reopen the Emporia Hostess Brands plant bringing employment up to 300 in the near future.
We assisted and introduced Hostess Brands to our economic partner, the Kansas Department of Com-merce. Within a matter of weeks a performance-based incentive proposal was developed. All of the ap-propriate applications were filed timely for the various performance-based incentives.
On April 9, 2013 the new owners took possession of Hostess Brands. According to Andrew Jhawar in the Forbes article, “This was a rare circumstance in history when you see a company go completely off the shelves and have no employees, have empty factories and no working capital.”
On April 8, 2015 we celebrated the third ribbon cutting of the success of the entrepreneur vision of Dean Metropoulos and Andrew Jhawar at the Emporia “flagship” production plant with the 500 plus employ-ees. The annual direct economic impact is a $25 to $27 million payroll felt every payday!
The Hostess Brands project owners Dean Metropoulos and Andrew Jhawar received more national pub-licity in Area Development’s annual 2014 Gold & Silver Shovel Awards. Kansas received the second place 2014 Silver Shovel Award for state under 3 million population category. The top project in Kansas was Hostess Brands, $130 million project with 500 jobs. The following link to the article:
Link to Area Development article about the Silver Shovel award to those states under 3 million in popu-lation category: