WEEK AHEAD: Hostess Nears Bankruptcy Sales of Twinkies, Wonder Bread

The fate of Twinkies, Wonder Bread and other beloved Hostess brands will be in a bankruptcy judge's hands Tuesday. Up for sale as part of Hostess Brands Inc.'s liquidation, the company took most of its brands off the auction block after no rival bidders stepped forward to challenge initial offers. However, Friday will see the auction of some of Hostess's smaller bread brands, like Sweetheart and Eddy's, at which a subsidiary of United States Bakery Inc. will lead off the bidding. Apollo Global Management LLC (APO) and Metropoulos & Co. have offered $410 million for such snack cake brands as Twinkies, Ho Hos and Ding Dongs, as well as five bakeries and equipment. Metropoulos & Co.'s Evan Metropoulos, whose family owns Pabst Brewing Co., said he hopes to quickly return Twinkies and Hostess's other snacks to store shelves, where they have been missing since their maker launched its liquidation last November. Separately, McKee Foods Corp., which makes Little Debbie snack cakes, offered $27.5 million for Drake's coffee cake and Ring Dings. Read more: http://www.foxbusiness.com/news/2013/03/15/week-ahead-hostess-nears-bankruptcy-sales-twinkies-wonder-bread/#ixzz2NlREH8oj