Hostess sells Hostess and Dolly Madison snack cake business to Apollo Global Management and Metropoulos & Co. for $410 million
Clients Hostess Brands Inc.
Jones Day advised Hostess Brands, Inc. regarding the stalking horse bid by affiliates of Apollo Global Management, LLC and Metropoulos & Co. in the purchase for the majority of the assets of the snack cake business, including both Hostess® and Dolly Madison® branded products, including the iconic Twinkies® brand for $410 million.
Hostess Brands requested that the U.S. Bankruptcy Court authorize the company to proceed with an auction for the majority of the assets of the snack cake business on March 13, 2013 provided the company receives competing qualified bids. The company will select the highest and best offer at the conclusion of the auction. The sale to the winning bidder requires Court approval.