General Discussion
In reply to the discussion: It wasn't the union that killed the Twinkie. It was vulture capitalism. [View all]krispos42
(49,445 posts)The original Interstate Bakeries merged with the Schulze Baking Company. Then, IB wound up buying a bunch of smaller bakeries from the 40's to the 70's, finally becoming Interstate Brands.
They were bought by a computer-leasing company called DPFGC, that was trying to change business sectors after getting in legal trouble with IBM and the anti-trust laws.
After divesting was complete, DPFGC changed its name to IBC Holdings, in 1987. 4 years later it was, again, Interstate Bakeries, and publicly traded.
In 1995, IB bought Continental Baking, which included Hostess and Wonder Bread. They also bought J. Nissen Baking at this time.
They went into bankruptcy in 2004, then emerged from 2009 with the help of, among others, GE Capital. They closed 10% of their facilities and laid of 30% of their workforce.