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DPF 1975
In 1975 Interstate was acquired by Data Processing Financial and General Corporation, known as DPF, a computer leasing company that had run into difficulties during the IBM antitrust battles, which changed pricing for IBM hardware. As a result, DPF was interested in changing business models, and using its cash to take over a low-tech company. The merged company, with headquarters in Hartsdale, New York, took the name "DPF" while it continued the divestiture of the remaining technology assets. While operating as DPF, the company invested heavily in its plants and also acquired Silver Loaf Baking Company, Eddy Bakeries, and Mrs. Cubbison's Foods, Inc.[5]
Interstate Bakeries 1981

In 1981 DPF completed the sale of its remaining computer systems and changed the company name back to its original Interstate Bakeries. Interstates headquarters moved back to Kansas City.

In 1986 the company acquired Purity Baking Company and Stewart Sandwiches, followed in 1987 by Landshire Food Products.
IBC Holdings 1987

In 1987 management took the company private, changing the name to IBC Holdings. IBC bought the Merita/Cotton's Bakeries division of the American Bakeries Company.
Interstate Bakeries 1991

In 1991 the private company changed back to publicly traded company, changing its name back to Interstate Bakeries.
Continental Baking merger 1995

In January 1995, Interstate acquired Continental Baking Company, from Ralston Purina, for US$330 million and 16.9 million shares of Interstate stock. Continental had acquired Taggart Bakeries, of Indianapolis, Indiana, in 1925[6], and brought Taggart's original creations Wonder Bread and Hostess brands – amongst others – to Interstate. Taggart had created Hostess in 1921, which concentrated on cakes like the Twinkies, Ding Dong and Ho Hos which were created during Continental's ownership.[7]

During this time, the merged company also bought San Francisco French Bread Company, John J. Nissen Baking Company, Drake's, and My Bread Company.[5]

With the merger, Interstate now held two major national bread divisions – Butternut and Wonder Bread. The two divisions operated with different cultures: Butternut was unregimented and each bakery was a self-contained profit center; Wonder Bread was very "procedural and by-the-book." This caused some problems early on. In both cultures, snack cakes were more profitable due to economy of scale and logistics. When extended-shelf-life enzymes were developed for bread, the hope was to convert the system of many small inefficient bakeries into an efficient network of a relatively few giant bakeries like their snack cakes operation. However, the recipe using the new enzymes caused the bread to have a different taste and texture,[8] and other market forces like a resurrection of the Atkins diet and competitor Krispy Kreme doughnuts affected pricing and sales volume.
2004 Bankruptcy

On September 22, 2004, Interstate Bakeries filed for Chapter 11 bankruptcy. The company also named a new chief executive, Tony Alvarez. Interstate Bakery's stock, which had been at one time $34/share, fell to $2.05/share as they declared bankruptcy. At the time it was the longest bankruptcy in U.S. history. During bankruptcy, Interstate fought a 2007 bid from Mexican baked goods giant Grupo Bimbo and Ron Burkle of the Yucaipa Companies. [9]

With the leadership of Craig Jung, the company emerged from bankruptcy as a private company on February 3, 2009.[10] The plan included a 50 percent equity stake by Ripplewood Holdings and lines/loans by General Electric Capital and GE Capital Markets, Silver Point Finance and Monarch Master Funding. Interstate's union workers made contract concessions in exchange for equity.[11]

During the 2004-2009 bankruptcy period, Interstate closed nine of its 54 bakeries and more than 300 outlet stores. Interstate's work force declined from 32,000 to 22,000 employees. The company also dropped some regional brands and operating agreements, such as the agreement to produce Sunbeam Bread for the northeastern U.S. (now produced by LePage Bakeries of Auburn, Maine)..[11]
Hostess Brands, Inc. 2009

Effective November 2, 2009, the company was renamed Hostess Brands, Inc. after the cake division that featured Twinkies and Cupcakes. Hostess continues its bread lines, including Wonder Bread.[12]
2012 Bankruptcy

By December 2011 it was reported that Hostess Brands was on the verge of filing for bankruptcy a second time after it suspended payments for union pensions and was struggling to remain current on its $700 million loan.[13]

On January 10, 2012 Hostess Brands filed for Chapter 11 Bankruptcy for the second time. In a statement in its filing, the company said it "is not competitive, primarily due to legacy pension and medical benefit obligations and restrictive work rules." The company said it employs 19,000 people and carries more than $860 million in debt. The company said it would continue to operate with $75 million debtor-in-possession financing from Monarch Alternative Capital, Silver Point Capital and other investors.[3]

Television talk show hostess Wendy Williams started a ‘Save The Twinkie’ publicity campaign shortly after the bankruptcy filing.[14] The campaign included promotions on The Wendy Williams Show.[15]

In March 2012, Brian Driscoll resigned from his position as CEO.[16] Gregory Rayburn, who had been hired and named Chief Restructuring Officer only nine days earlier, assumed the leadership position. Fortune reported that unions within the organization had been unhappy with Driscoll's proposed compensation package of $1.5 million, plus cash incentives and a $1.95 million "long term compensation" package. Additionally, the court had discovered that Hostess executives had received raises of up to 80% the year prior. In an effort to restore relations, Rayburn cut the salaries of the four top Hostess executives to $1, to be restored on January 1 the following year.[17]

tldr anything here, but the workers brought this upon themselves

tldr anything here, but the workers brought this upon themselves