Twinkie Talk Heating Up
November 21, 2012- Share:
Hostess Brands is looking pretty sweet to some investors. Private equity firm Hurst Capital has filed a letter of intent to acquire the assets of Hostess with the U.S. Bankruptcy Court, including a detailed multimillion dollar offer for the beleaguered brand. Sun Capital Partners is also reportedly in the hunt. Sun co-CEO Marc Leder remarked in a Fortune Magazine interview that the firm believes it could make Hostess "immediately profitable on an EBITDA basis." Food producers ConAgra and Flowers Food have reportedly expressed interest, as have Little Debbie maker McKee Foods and bread-baker Grupo Bimbo, part-owner of Sara Lee and Thomas English Muffins. Hostess first filed for Chapter 11 bankruptcy protection in early 2012. The U.S. Bankruptcy Court in New York declined to approve the company's liquidation request on Monday.
Potential Bidders
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