Hostess Creditor, PE Firms Show Interest in Twinkies Brand, NY Post Reports

Monday, 11 Mar 2013 09:11 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Hostess Brands Inc. creditor Silver Point Capital and hedge fund Hurst Capital have expressed interest in buying Hostess's snack cake brands, including Twinkies, the New York Post reported.

Silver Point Capital sent a letter to Hostess's bankers in the last few days expressing interest in buying all or part of the business, the Post said, citing a source.

Hurst Capital, which said in November it wanted to buy Hostess's business, has formed a partnership with other private-equity firms to make an offer, the Post said.

Hostess received permission late last year from a U.S. bankruptcy court to wind down its business and liquidate its assets after 82 years.

Private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co. set a baseline offer of $410 million in January to buy the company's snack cake brands including Twinkies and Dolly Madison.

The so-called stalking horse bid by the private equity firms serves as the minimum offer for the business, which could still be topped by others.

The company has since auctioned off its Beefsteak bread brand to Mexico's Grupo Bimbo and its Wonder Bread and some other brands to Flowers Foods Inc.
Grupo Bimbo is also seen as a candidate to bid for Hostess's snack cake brands, sources told Reuters previously.

Silver Point Capital, Hurst Capital and Hostess Brands officials could not be immediately reached for comment by Reuters outside of regular U.S. business hours.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved