The unit includes Hostess branded products, will be the bid presented for approval to the US Bankruptcy Court as no other qualified bids were received for those assets.
Apollo and Metropoulos have agreed to pay $410m to purchase the brands, five bakeries and certain equipment. Among the products included are the Company’s Twinkies, Ho Hos, Ding Dongs and Donettes snack cakes.
The company will ask the US Bankruptcy Court for the Southern District of New York to approve the transaction at a hearing on 19 March.
Flowers Foods has agreed to pay $360m for the majority of the bread business assets. The agreement includes, in addition to the brands, 20 bakeries, 38 depots and other assets.
In a separate transaction, Grupo Bimbo was selected as the winning bidder for the assets related to the company’s Beefsteak bread business. Grupo Bimbo has agreed to pay $31.9m for the Beefsteak assets.
Source: Hostess Brands
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