Dive Summary:
- According to two sources with knowledge of the matter, Hostess Brands has identified the party of Apollo Global Management and C. Dean Metropoulos as the leading bid for its cake product assets, including some facilities.
- Hostess, the bankruptcy-plagued Twinkie and Wonder bread maker, has a line of iconic cake snacks which include CupCakes, Ding Dongs and Ho Hos.
From the article:
"... Hostess Brands Inc., the bankrupt maker of Wonder bread and Twinkies, picked the team of Apollo Global Management LLC (APO) and C. Dean Metropoulos & Co. as the lead bidder for its cake brands, said two people with knowledge of the matter.
The assets include some facilities, said one of the people, who asked not to be identified because the process is private. The offer becomes the so-called stalking horse for an auction of the cakes business, meaning it sets the standard that other suitors have to beat. Hostess’s cake products include CupCakes, Ding Dongs and Ho Hos. ..."
