March 11 Hostess Brands Inc creditor
Silver Point Capital and hedge fund Hurst Capital have expressed
interest in buying Hostess's snack cake brands, including
Twinkies, the New York Post reported.
Silver Point Capital sent a letter to Hostess's bankers in
the last few days expressing interest in buying all or part of
the business, the Post said, citing a source.
Hurst Capital, which said in November it wanted to buy
Hostess's business, has formed a partnership with other
private-equity firms to make an offer, the Post said.
Hostess received permission late last year from a U.S.
bankruptcy court to wind down its business and liquidate its
assets after 82 years.
Private equity firms Apollo Global Management LLC
and C. Dean Metropoulos & Co set a baseline offer of $410
million in January to buy the company's snack cake brands
including Twinkies and Dolly Madison.
The so-called stalking horse bid by the private equity firms
serves as the minimum offer for the business, which could still
be topped by others.
The company has since auctioned off its Beefsteak bread
brand to Mexico's Grupo Bimbo and its Wonder Bread
and some other brands to Flowers Foods Inc.
Grupo Bimbo is also seen as a candidate to bid for Hostess's
snack cake brands, sources told Reuters previously.
Silver Point Capital, Hurst Capital and Hostess Brands
officials could not be immediately reached for comment by
Reuters outside of regular U.S. business hours.