Gores Holdings, Inc. Completes Acquisition Of Hostess Brands, LLC, Maker Of Twinkies®

Gores Holdings, Inc. ("Gores Holdings") (NASDAQ CM: GRSHU, GRSH, GRSHW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC ("The Gores Group" or "Gores"), today announced that it completed the acquisition of Hostess Brands, LLC ("Hostess Brands"), the maker of Hostess ® Twinkies ®, Ding Dongs ® and CupCakes. The transaction has been unanimously approved by the Boards of Directors of both Gores Holdings and the indirect parent of Hostess Brands, and was approved at a special meeting of Gores Holdings' shareholders on November 3, 2016. In connection with the transaction, Gores Holdings has been renamed Hostess Brands, Inc. ("Hostess" or "the Company"), and its common stock and warrants will trade on NASDAQ under the symbols "TWNK" and "TWNKW", respectively.

As previously announced, along with the $375 million of Gores Holdings' shareholder equity, additional investors comprising large institutional investors, C. Dean Metropoulos (through $50 million of additional rollover contribution) and Gores affiliates participated in a $350 million private placement, led by Alec Gores, Chairman and CEO of The Gores Group. Additionally, funds managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE: APO) and C. Dean Metropoulos and family, the prior majority owners of Hostess, will continue to hold an approximately 42% combined stake in the Company. Dean Metropoulos and William Toler continue to lead Hostess as Executive Chairman and Chief Executive Officer, respectively.

Dean Metropoulos, Executive Chairman of Hostess, stated, "We are excited to introduce Hostess as a public company and I am extremely proud of the job our team has done in repositioning and growing Hostess during the past four years. I believe the Company has strong growth potential and can think of no one better to partner with in this next journey than Alec Gores and the Gores team who have a well-earned reputation for not only identifying, but adding value to the businesses with which they affiliate."