On March 12, 2013 Associated Press reported that the new owners of Twinkies want to purchase more Hostess snack cake.
C. Dean Metropoulos and Apollo Global Management have entered the contest to buy Drake's snack cakes which includes: Yankee Doodles Sunny Doodles, Ring Ding, Devil Dogs, Funny Bones, Yodels, Coffee Cakes, Fruit Pie and Apple Pie.
The new Twinkies owner were the only company that placed a bid for Twinkies Hostess cakes in January. On Monday, the auction got canceled since there are no other bidders.
The offer from C. Dean Metropoulos and Apollo Global Management poses a challenge for McKee Foods who makes Little Debbie cakes. McKee foods known as the "stalking horse" for the acquisition for Drake's snack cakes, before C. Dean Metropoulos and Apollo Global Management placed their bids
McKee Foods had placed a $27.5 million bid for Drake's which opened an auction. The deadline to submit a competing bid for Drakes was for 5 p.m. Tuesday.
The offer from C. Dean Metropoulos and Apollo Global Management still need to be viewed and qualify. The auction on Friday could be canceled if the bid is not accepted.
If that happens, McKee Foods becomes the buyer. Hostess had picked McKee Foods as the previously before the new bid.
McKee and Hostess declined to comment. C. Dean Mitropoulos and Apollo Global Management were not available for immediate comments.