Gores Prepares for Next Deal After Taking Bite Out of Twinkies
- Buyout firm set up new blank check company in August
- Venture will likely raise about $400 million for deals
Hostess Brands LLC Twinkies snack cakes sit in a tray in the packaging area of a Hostess bakery in Schiller Park, Illinois, U.S., on Monday, July 15, 2013. Hostess Brands LLC officially revives sales of the iconic Twinkie snack cake today, following a seven-month hiatus after the original company decided to liquidate under bankruptcy.
Photographer: Bloomberg/Bloomberg via Getty ImagesAlec Gores, the private equity investor who bought a majority stake in Hostess Brands LLC earlier this year, is preparing for his next big deal.
Gores Group incorporated its second blank check company in August, according to Delaware state records. The new buyout venture will probably seek to raise about $400 million, Mark Stone, a senior managing director of the Beverly Hills, California-based firm, said in a telephone interview.