Reuters: Bankruptcy News: Hostess creditor, PE firms show interest in Twinkies brand - NY Post

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Hostess creditor, PE firms show interest in Twinkies brand - NY Post Mar 11th 2013, 05:39 March 11 | Mon Mar 11, 2013 1:39am EDT March 11 (Reuters) - 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. Link this Share this Digg this Email Reprints

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