Hostess' $800M Sale Of Twinkie, Bread Brands Approved

Law360, Wilmington (March 19, 2013, 8:31 PM EDT) -- Hostess Brands Inc. on Tuesday won New York bankruptcy court approval to sell $800 million of assets representing the heart of its business, including a $410 million deal with Apollo Global Management LLC and C. Dean Metropoulos & Co. for Twinkies and other iconic snack cake brands.

U.S. Bankruptcy Judge Robert D. Drain signed off on the sales, according to a Hostess spokesman, which also included Georgia-based Flowers Foods Inc.’s $360 million bid for the bulk of the company’s bread business and a $31.9 million deal...
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