Apollo, Metropoulos Offer $410 Million For Hostess Cakes

Jan 31 2013 | 11:42am ET

Private equity firms Apollo Global Management and Metropoulos & Co. have officially been named the lead bidders for most of Hostess Brands' iconic snack cakes with an offer of up to $410 million.

Bankrupt Hostess formally selected the two firms as stalking-horse bidders yesterday. It is seeking a March 13 auction for the assets, which include Twinkies, CupCakes, Ding Dongs, Ho Hos and Donettes. The winning bidders will also get five bakeries.

"We are pleased to be partnered with Apollo as we seek to resurrect Hostess Snacks and return these legendary products to the American consumer," Metropoulos founder C. Dean Metropoulos said.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note