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Twinkies maker Hostess to go public

Hostess Cupcakes and Twinkies
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Hostess Cupcakes and Twinkies

Hostess Brands, the maker of Twinkies, said it had entered into a deal with Gores Holdings to go public.

Hostess is expected to have an initial enterprise value of about $2.3 billion, the companies said on Tuesday.

Funds managed by affiliates of Apollo Global Management and C. Dean Metropoulos and family, the current majority owners of Hostess, expect to hold a combined stake about 42 percent in Gores Holdings upon completion of the deal.