Iconic American snack maker Hostess eyes public listing
Move comes as US food industry's sales and profit are slumping
New York
HOSTESS Brands LLC, the baker of Twinkies and Ding Dongs, plans to become a publicly listed company, marking a revival for an iconic American baker that just three years ago was facing liquidation.
The company will go through a complex deal on its route to becoming public, with investors including Alec Gores's firm ponying up US$725 million. The baker's owners - private equity firm Apollo Global Management LLC and investor Dean Metropoulos - will own 42 per cent of the new company, which will be renamed Hostess Brands Inc.
The deal marks a comeback for a brand that was close to extinction before Apollo and Mr Metropoulos bought it out of bankruptcy in 2013. Hostess was founded in 1919 and gained popularity …
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