Hostess Brands LLC, the iconic American baker of Twinkies and Ding Dongs, plans to become a publicly listed company three years after being bought out of liquidation.

An acquisition vehicle linked to Gores Group LLC will provide Hostess’s current owners -- private equity firm Apollo Management LLC and investor Dean Metropoulos -- with $375 million, and additional investors have committed $350 million in a private placement, the companies said in a statement Tuesday. Metropoulos and Apollo will retain a 42 percent stake after the transaction.

The deal marks a comeback for a brand that was close to extinction before Apollo and Metropoulos bought Hostess out of bankruptcy in 2013. After the deal announced Tuesday, the company will be named Hostess Brands Inc., with Metropoulos continuing to serve as executive chairman and William Toler remaining as chief executive officer.

“Hostess presents a unique opportunity to invest in an iconic brand with strong fundamentals that is poised for continued growth,” Alec Gores said in a statement.

Gores said it expects the new company will have an initial enterprise value of about $2.3 billion, 10.4 times its forecast 2016 adjusted operating profit of about $220 million.

Food and beverage industry