Hostess selects winning bid for Twinkies

Hostess Brands selected a bid from affiliates of Apollo Global Management, LLC and Metropoulos & Co. for the majority of the company’s snack cake business including Twinkies and Dolly Madison brands. The $410 million deal will be submitted to US Bankruptcy Court for approval at a hearing March 19. Hostess received no other qualified bids for the assets, which included Twinkies, Ding Dongs, Ho Hos and Donettes. Flowers Foods’ $360 million bid for Hostess’ bread brands and other assets was already accepted and will also be submitted for approval at the March hearing.