A federal bankruptcy judge has approved the sales of several major product lines of the bankrupt Hostess Brands, the
New York Times’
DealBook blog reported.
Some of the brands are being sold to family companies.
Hostess will sell its Drakes line of snack cakes to family-owned McKee Foods, which bid $27.5 million, the
Times
article said.
Hostess’s snack cake brands, including Twinkies and Ho Hos, to a partnership of Apollo Global Management and C. Dean Metropoulos & Company for $410 million, the article said. Metropoulos & Company, a private equity firm owned by the Metropoulos family, also owns the Pabst Brewing Company. (Source: DealBook,
New York Times,
March 19, 2013.)
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