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Apollo, Metrpoulos Win Majority of Hostess Snack-Cakes

Hostess Brands Inc., the bankrupt maker of Wonder bread, said Apollo Global Management LLC and C. Dean Metropoulos & Co. agreed to pay $410 million for the majority of its snack business, including its iconic Twinkies.

In a court filing last night, Hostess said the only qualified bid received by a court deadline came from Apollo, Leon Black’s private-equity firm, and Metropoulos, a private-equity firm that owns Pabst Brewing Co. In a statement today, the company confirmed them as the winning bidders.