Hostess Brands sells to Gores Group-sponsored SPAC

Hostess Brands LLC said July 5 that it has entered into agreement with Gores Holdings Inc, a special purpose acquisition company sponsored by The Gores Group LLC, to go public. Hostess will have an anticipated initial enterprise value of approximately $2.3 billion. Apollo Global Management LLC, along with C. Dean Metropoulos and family, will own 42 percent of Gores Holding once the deal closes. Hostess Brands makes Hostess Twinkies, Ding Dongs® and CupCakes.

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