M&A Deal Summary

Apollo Global Management and Metropoulos Acquire Hostess Brands

On March 12, 2013, asset manager Apollo Global Management and family office Metropoulos acquired food company Hostess Brands for 410M USD

Acquisition Highlights
  • This is Apollo Global Management’s 2nd and Metropoulos’ 1st transaction in the Food sector.
  • This is Apollo Global Management’s 44th and Metropoulos’ 2nd largest (disclosed) transaction.
  • This is Apollo Global Management’s 25th and Metropoulos’ 1st transaction in the United States.
  • This is Apollo Global Management’s 1st and Metropoulos’ 1st transaction in Kansas.
Investment Fate
  • Hostess Brands was sold to a consortium of financial buyers in 2016.
  • Hostess Brands was sold to a strategic buyer in 2023 for 5.6B USD.

M&A Deal Summary

Date 2013-03-12
Target Hostess Brands
Sector Food
Buyer(s) Apollo Global Management
Metropoulos
Deal Type Special Situations/Distressed
Deal Value 410M USD

Target

Hostess Brands

Lenexa, Kansas, United States
Hostess Brands is a packaged food company focused on developing, manufacturing, marketing, selling and distributing fresh sweet baked goods in the United States. Hostess Brands was founded in 1919 and is based in Lenexa, Kansas.

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Buyer(S) 2

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.


DEAL STATS #
Overall 32 of 138
Sector (Food) 2 of 2
Type (Special Situations/Distressed) 4 of 6
State (Kansas) 1 of 1
Country (United States) 25 of 100
Year (2013) 1 of 6
Size (of disclosed) 44 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-18 Norwegian Cruise Line Holdings

Miami, Florida, United States

Norwegian Cruise Line Holdings is a diversified cruise operator of global cruise lines spanning market segments from contemporary to luxury under the Norwegian, Oceania and Regent brands. These brands operate 21 ships with approximately 40,000 Berths visiting approximately 420 worldwide destinations. Norwegian is an innovator in cruise travel with a history of breaking the boundaries of traditional cruising, most notably with the introduction of “Freestyle Cruising,” which changed the industry by giving guests more freedom and flexibility. Oceania is a market leader in the upper-premium cruise segment featuring the fine cuisine at sea, elegant accommodations, impeccable service and destination-driven itineraries. Regent is a market leader in the luxury cruise segment with all-suite accommodations, highly personalized service and the industry’s most inclusive luxury experience featuring round-trip air, fine wines and spirits and unlimited shore excursions among its numerous included amenities. Norwegian Cruise Line Holdings was formed in 1966 and is based in Miami, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-22 McGraw Hill Education

New York, New York, United States

McGraw Hill Education is a provider of high-quality educational material and learning solutions for students, instructors, and institutions around the world. McGraw Hill Education was founded in 1888 and is based in New York City.

Buy $2.5B
DESCRIPTION

Metropoulos & Co. is a family owned private investment firm focused on reviving food, beverage, and other consumer brands. Metropoulos & Co. is based in Greenwich, Connecticut.


DEAL STATS #
Overall 1 of 3
Sector (Food) 1 of 2
Type (Special Situations/Distressed) 1 of 1
State (Kansas) 1 of 1
Country (United States) 1 of 3
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-05 Hostess Brands

Lenexa, Kansas, United States

Hostess Brands is a packaged food company focused on developing, manufacturing, marketing, selling and distributing fresh sweet baked goods in the United States. Hostess Brands was founded in 1919 and is based in Lenexa, Kansas.

Sell -