New York, NY, United States (4E) – Hostess Brands Inc. is close to achieving a deal which might market its Twinkies plus alternative cake brands to private-equity companies Apollo Global Management LLC plus C. Dean Metropoulos & Co. for over $ 400mn, according to sources familiar with all the negotiations.
Details of the discussions are not yet prepared public plus sources state which the deal, that is element of the bankruptcy reorganization by the iconic brand, is not yet final.
Other possible customers inside the auction can top the so-called stalking horse call, inside that case both Apollo plus Metropoulos will be entitled to a breakup fee. Many sources believe which the deal are not finalized till later inside the week, nevertheless the parties are pushing to receive the deal performed by Tuesday.
The giant buyout store Apollo, that was co-founded by Leon Black, plus Metropoulos, that owns the Pabst Blue Ribbon ale brand, have appeared because the leading individuals to get Hostess’s cake brands. Discussions regarding the sale have gained momentum inside latest days, that might probably cause a deal, according to sources familiar with all the talks.
On Monday, Hostess announced 2 more sale deals. It was marketing its bread brands including Eddy’s, Sweetheart, Grandma Emilie’s plus Standish Farms to United States Bakery Inc. as well as its Drake’s brand to McKee Food Corp.
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