Gores Group $725 million acquisition of Hostess Brands

Overview:

• Gores Group has acquired Hostess Brands in a $725 million deal from Apollo Global Management.
• The private equity firm is immediately taking Hostess public.
• Gores Group entity Gores Holdings will pay $375 million in cast to Hostess shareholders.
• The deal is expected to close in the third quarter of 2016.
• Previous owners Apollo Global Management and C Dean Metropoulos will retain stakes in the company.
• Weil Gotshal & Manges (Kyle Krpata, James Griffin, Gabriel Gregson, Jennifer Bensch) advised Gores Holdings.
• Morgan Lewis & Bockius represented Apollo.
• Paul Weiss Rifkind Wharton & Garrison advised investor C Dean Metropoulos and his family.

Kurt Stumpo - Journalist - North America and the Caribbean