Bedford Businessman Snacks On Bankrupt Hostess Brands

BEDFORD, N.Y. – Bedford private equity juggernaut Leon Black, chairperson of Apollo Global Management, has won the rights to the recently bankrupt snack-cake business Hostess Brands, according to Newsday.

It is still unclear if Hostess' iconic cake treats will ever be on store shelves again.
Photo Credit: *flickr*

Bedford private equity juggernaut Leon Black, chairman of Apollo Global Management, was part of a $410 million winning bid for Hostess Brands.
Photo Credit: *flickr*

by Michael Nocella

03/13/2013 12:00 p.m.

So how much does it cost to buy all the Twinkies, Suzy Q’s and Ho Hos in the world? According to a document filed by Hostess in U.S. Bankruptcy Court in White Plains, the winning bid by Apollo and its partner Metropoulos & Co., of Greenwich, Conn., about $410 million.

It was reported as the only qualified bid received by the deadline and there will be no further auctions.

Hostess, whose headquarters is based in Irving, Texas, shut down operations in November. It is still unclear if the company's iconic desserts will ever be found on supermarket and minimart shelves again.

Forbes magazine recently estimated Black’s net worth at $4.3 billion.

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