Apollo, Metropolous To Bid On Hostess Cakes Biz.

Jan 23 2013 | 10:37am ET

The Twinkie's future may be in the hands of a pair of private-equity firms.

Apollo Global Management and Metropolous & Co. are likely to open the bidding for most of Hostess Brands' flagship cakes business, according to published reports. To win, the two will likely have to fend off a number of other would-be buyers in a bankruptcy court auction, including p.e. shop Hurst Capital.

Apollo and Metropolous had been circling Hostess even before its current private equity and hedge fund owners put it into bankruptcy in November. Hostess is selling its business separately, including its Drakes cakes business, which would not be part of the sale covering Twinkies, Ding Dongs and other sweet specialties.

It isn't clear how much Apollo and Metropolous will offer for the cakes business, which could include several of Hostess' mothballed plants. Hostess recently sold its bread business for $390 million.

Hostess could identify the bidder as soon as next week.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR