Andy Jhawar, a Senior Partner of Apollo and Head of Apollo’s Consumer and Food Retail Industry Group added, “Today’s approval of the stalking horse agreement is a positive step toward saving some of America’s most well-recognized and iconic brands. We believe the Hostess Snacks brands we agreed to acquire offer significant potential for renewed growth and expansion into additional channels of distribution. We are confident that the combined expertise and capital of Apollo and C. Dean Metropoulos, who has an unparalleled track record of value creation in the consumer packaged food and beverage industry, will prove invaluable as we re-launch the Hostess Snacks business.”
About Apollo Global Management, LLC
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo had assets under management of approximately $110 billion as of September 30, 2012 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
About Metropoulos & Co.Metropoulos & Co. is a merchant banking and management firm focused principally on the food and consumer sectors in the United States and Europe. In recent years, C. Dean Metropoulos and his management team partners have been involved in more than 74 acquisitions with over $12 billion of aggregate transaction value. Companies where Metropoulos & Co. has been an investor and Metropoulos has been an executive include: Pabst Brewing Company, Pinnacle Foods, Aurora Foods, Stella Foods, The Morningstar Group, International Home Foods, Ghirardelli Chocolates, Mumm and Perrier Jouet Champagnes and Hillsdown Holdings, PLC (Premier International Foods, Burtons Biscuits and Christie Tyler Furniture), among others.