Hostess sells Twinkies for $410m

Hostess Brands, the owner of Twinkies, said yesterday its snack-cake business would be sold to private equity firms Apollo Global and C. Dean Metropoulos for $410m (£275m) after no other bids were received. Hostess filed for bankruptcy in November last year after a strike by a baker’s union crippled the company's operations. The company had intended to auction off the asset, but no other bidders came forward.