Sitrick & Company and Rubenstein Associates are advising the private equity-backed deal to take Twinkie maker Hostess Brands public on the Nasdaq exchange.
The deal would value Hostess at around $2.3B and leave a 42% combined ownership stake with Apollo Global Management and current Hostess owner C. Dean Metropoulos.
The transaction will see a publicly traded unit of investment firm The Gores Group take a majority stake for around $725M.
Rubenstein reps Apollo in the deal, while Sitrick advises Gores Group. Sitrick repped the previous incarnation of Hostess Brands, Inc. through its 2012 bankruptcy filing. The new Apollo/Metropoulos owned Hostess Brands, LLC was launched in June, 2013. Metropoulos and Company is represented by New York-based LAK PR. LAK is also public relations agency of record for Hostess.
Hostess sales for fiscal 2015 were around $650M.
The New York Times noted Apollo and Metropoulos stand to collect about $1B on an initial investment of about $185M.
Spectrum Science acquires clinical trial recruitment and engagement solutions provider Continuum Clinical.
How PR agency owners can navigate the M&A process in a way that yields a rewarding experience for both owners and the teams they leave behind.
Ten potential ways an agency sale can positively benefit team members and employees.
Kekst CNC reps Palladium Equity Partners and its joint venture affiliate, Palladium Heritage, on the acquisition of National Auto Parts, USA;, NAP San Diego; and National Auto Parts-Oakland to form Collision Auto Parts, a platform serving customers in the automotive aftermarket collision repair sector.
ICR has acquired Bullfrog + Baum, the 23-year-old PR shop focused on the hospitality, lifestyle, travel and consumer marketing sectors.
Have a comment? Send it to 
No comments have been submitted for this story yet.