Hostess Brands acquires investor
Hostess Brands will announce today that a majority stake in the company was sold to the Gores Group, an investment firm, for about $725 million.
Hostess exited bankruptcy about three years ago, and this is its first time going public again. Since bankruptcy, it was owned by the investment firm Apollo Global Management and Metropoulos & Company, previous owner of the maker of Pabst Blue Ribbon beer.
Hostess was founded in 1919 with the Hostess CupCake, and became famous with the Twinkie product.
Read more about the transaction here.