The main creditor of Hostess Brands, Silver Point Capital and hedge fund firm Hurst Capital have expressed interest in purchasing Hostess snack cakes brands according to a report by the New York Post. The brand, which includes Twinkies, is included in the liquidation assets of Hostess that can be sold off as the 82 year old snack icon winds down its business.
According to sources of the Post, Silver Point Capital had already sent a letter to the Hostess bankers expressing its interest in the purchase. On the other hand, Hurst Capital is lining up other private equity firms to form a consortium to bid for the Hostess brand and other assets. Other firms had already made an offer, such as Apollo Global Management and C. Dean Metropoulos and Co pegging the price at US$410 million for the snack cake brands including Dolly Madison and Twinkies. Another firm, Grupo Bimbo is also rumored to bid for the snack cake brands.
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