Apollo Bids for Twinkies

Hostess Brands has selected affiliates of Apollo Global Management and Metropoulos as the “stalking horse” bidder for the majority of its snack cake business, which includes both Hostess- and Dolly Madison-branded products, including Twinkies brand.

Apollo and Metropoulos have agreed to pay $410 million for the brands, five bakeries and some equipment. The brands will go to auction on March 13.