Hostess set to announce bidder for Twinkies

Register | Log-in

CHOOSE YOUR HUE:

Follow Mood on Twitter

Hostess set to announce bidder for Twinkies

BY CANDICE CHOI
The Associated Press | Published: February 1, 2013 | Modified: February 1, 2013 at 6:54 pm

FILE - In this Friday, Nov. 16, 2013, file photo, Twinkies baked goods are displayed for sale at the Hostess Brands' bakery in Denver, Colo. Hostess Brands is close to announcing that it has picked two investment firms, C. Dean Metropoulos & Co. and Apollo Global Management, as the lead bidders for its Twinkies and other snack cakes, according to a source close to the situation. (AP Photo/Brennan Linsley, File)

Citing sources close to the situation it did not name, the Wall Street Journal reported Tuesday that the offer for Twinkies and other snack cakes by C. Dean Metropoulos and Apollo would be for more than $400 million. The report said that the deal could be disclosed as early as Tuesday. C. Dean Metropoulos owns Pabst Brewing Co.

A representative for Apollo declined to comment. A representative for C. Dean Metropoulos did not return calls for comment.

Hostess has stressed in bankruptcy proceedings that it needs to move quickly in the sale of its brands to capitalize on the outpouring of nostalgia and media coverage prompted by its demise. The longer the cakes and breads are off shelves, the more people will become accustomed to eating cakes and breads by rivals, the company has said.

Page 2 of 2