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

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...