What The Future Holds For Twinkies

Last updated on Thursday, March 28, 2013

(UNDATED) - A clearer picture is emerging of what the future holds for some of Hostess’ signature brands, including Twinkies.

Private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co. are nearing a deal to buy the Twinkies brand from bankrupt Hostess Brands Inc. That's according to sources familiar with the deal, which would also include other Hostess snack cakes.

The deal hasn't been finalized yet, the source said. According to the Wall Street Journal, the bid would be for more than $400 million.

Earlier in January, Hostess picked a $390 million offer from Flowers Foods for several brands including Wonder Bread. The company makes Tastykake products.

On Monday, Hostess tapped McKee Foods Corp. as the initial bidder for Drake's Cakes, a line that includes Ring Dings, Yodels and Devil Dogs. The company makes Little Debbie snack cakes. Hostess also chose United State Bakery as the lead bidder for four bread brands in addition to bakeries, equipment and depots.