Hostess Reportedly Shelves Sale For IPO
Jul 7 15
Hostess Brands, LLC has pulled itself from the auction block and will instead pursue an initial public offering (IPO), according to people familiar with the matter. Hostess, which launched a process to sell itself earlier in 2015 year, snubbed offers in recent weeks from other companies and private equity firms that valued it at between $2.4 billion-$2.5 billion, including debt, the people said. It will also begin preparations in the coming months for an IPO that it believes will give it a higher valuation than the acquisition proposals it received, the people added. C. Dean Metropoulos & Co. and Apollo Global Management, LLC tried to divest Hostess Brands, LLC for $2.3 billion but dropped the sale in the last few days after failing to get offers at the expected price. There were talks with CVC Capital Partners Limited to sell Hostess.
Investors Reportedly Mulls Acquisition Of Hostess Brands
May 28 15
Post Holdings, Inc. (NYSE:POST) reportedly is seeking acquisition of Hostess Brands, LLC from Apollo Global Management, LLC and C. Dean Metropoulos & Co. “Post Holdings is among several bidders seeking to acquire Hostess Brands Inc. for roughly $2 billion,” a source close to the situation told the New York Post. Other reported bidders include Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBO A), Flowers Foods, Inc. (NYSE:FLO)and ARYZTA AG (SWX:ARYN), the sources told the newspaper. Representatives from Post Holdings, Flowers Foods and Grupo Bimbo didn't respond with comments for the newspaper's report.
Edita Food Industries S.A.E. Signs Two New Contracts with Hostess Brands LLC
Apr 20 15
Edita Food Industries expands the scope of its rights under the 2013 agreements for HoHo's, Twinkies & Tiger Tail (HTT) Brands to include 12 additional MENA countries, and acquires technical assistance & knowhow to manufacture 11 new Hostess Brands products. The Edita Food Industries's board of directors in its meeting dated April 14, 2015, resolved to expand the scope of its existing rights under the 2013 agreements with Hostess Brands LLC for the brands, accordingly signed two new contracts on April 16, 2015. First contract: the trademark and goodwill sale and license agreement that expands the scope of the rights, title and interest granted to Edita Food Industries to the trademarks (Hohos, Twinkies, and Tiger Tail), to Algeria, Bahrain, Iraq, Kuwait, Lebanon, Morocco, Oman, Qatar, Kingdom of Saudi Arabia, Syria, Tunisia, and the United Arab Emirates. Second contract: the license and technical assistance agreement that relates to acquiring the license, knowhow and technical assistance for products other than Hohos, Twinkies and Tiger Tails for the expanded territory including Egypt, Libya, Palestine, Jordan, Algeria, Bahrain, Iraq, Lebanon, Kuwait, Morocco, Oman, Qatar, Kingdom of Saudi Arabia, Syria, Tunisia, and the United Arab Emirates. Both contracts have a total value of USD 12 million.