Hostess Re-Debuts as a Public Company

Nov. 8, 2016
Gores Holdings completes its acquisition, renames itself Hostess Brands and starts trading on NASDAQ.

Hostess Brands Inc. again became a public company on Nov. 4 with its stock trading on the NASDAQ exchange under the symbol "TWNK."

The return of the twice-bankrupt snack baker to the stock market followed some financial gyrations, in which Hostess was acquired by Gores Holdings, an already publicly listed special purpose acquisition company, which immediately renamed itself Hostess Brands.

Gores arrived on the scene this July, when C. Dean Metropoulos and his Apollo Global Management LLC, which bought Hostess in 2013 during its bankruptcy liquidation, transferred ownership to Gores Holdings but got a 42 percent stake in Gores Holdings -- which has been transferred into an equal stake in Hostess Brands.

Metropoulos and Apollo Global Management bought Hostess for $410 million. Metropoulos will stay on as executive chairman; so will CEO William Toler.

In the initial filing, the company reported sales of $658 million for the 12 months ended June 30, 2016. Hostess operates five baking facilities located in Emporia, Kan.; Columbus, Ga.; Southbridge, Mass.; and Indianapolis.

Sponsored Recommendations

Discover Your Savings Potential with the Kaeser Toolbox

Discover your compressed air station savings potential today with our toolbox full of calculators that will help you determine how you can optimize your system!

Revolutionizing Healthcare: The Impact of Digitalization in Biopharma Innovation

Biopharma enables an entirely new level of innovation that’s simply not possible in conventional drug development. It’s an approach that can fundamentally change the way healthcare...

Navigating the Automotive Industry's Electric Future

The automotive industry is at a turning point. Bloomberg estimates that by 2040, 54% of new vehicle sales will be electric. And by 2030, we’re looking at 100% of passenger vehicles...

Unified Process Control Brings Operational Clarity

Inland Empire Utilities Agency replaces its SCADA enterprise system with the PlantPAx Distributed Control System and reduces complexity for operators