Apollo Global Management LLC and C. Dean Metropoulos & Co will acquire the famous pastries Twinkies and other brands for $410 million, bankrupt Hostess Brands Inc. announced Tuesday.
The joint offer was the only one presented in writing, and so Hostess, which announced its closure last November, decided to turn the brands over to the two companies, the firm said.
The agreement still must be approved by the bankruptcy court supervising the liquidation of Hostess's assets.
A spokesman for Apollo Global contacted by Efe declined to comment on the matter.
Twinkies has been an iconic brand among Americans since the sweet, puffy pastries began being manufactured during the Great Depression and their possible disappearance had sparked unease among their most faithful consumers.
Hostess Brands announced its closure last November after management failed to reach accord with bakers on concessions. EFE