Twinkie

Hurst Capital will still bid for Twinkies

29 Jan, 2013

Despite a Wall Street Journal report Tuesday that said Hostess Brands “is nearing a deal” to sell the Twinkies brand and others to a pair of firms for more than $400 million, Hurst Capital will still bid on the brand.

The front-runners, who will receive special status in an upcoming silent auction, are reported to be Metropoulos & Co., headed by turnaround expert Dean Metropoulos, and Apollo Global Management LLC. Adrian Hurst says:

We are aware of what Wall Street Journal is reporting. But we don’t know if that is true. If  that is the case, we will be showing up at the auction to buy this thing in a month or so.

The Hostess sales will occur after law firm Perella Weinberg Partners names front runners — called stalking horse bidders. The stalking horse bids then become the ones to beat in a four-week auction. Their special advantage is that they are entitled to a break-up fee if they are outbid.

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