The maker of Twinkies and Ding Dongs is staging a comeback
Almost four years after seeking bankruptcy protection under a barrage of labor issues and rapidly changing appetites, the maker of Twinkies and Ding Dongs will take the stage once again as a publicly traded company.
Hostess Brands, which first emerged in 1919 with the Hostess CupCake, has been shuffled between different owners since it sought Chapter 11 bankruptcy protection for a second time in July 2012.
The latest owners, the Apollo Global Management and Metropoulos & Co., will sell the majority of company that is valued at about $2.3 billion. The new owners, Gores Holdings, an acquisition company run by the private equity firm, The Gores Group, will put up $375 million in cash, the companies said Tuesday. Read more…
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