Thursday, 2 October 2014
Last updated 56 min ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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