Private equity firms Apollo Global Management LLC and C. Metropoulos & Co. have made a $410 million lead bid for Twinkies and other cake brands from bankrupt Hostess Brands Inc.

The private equity firms are the joint stalking-horse bidder for the Hostess and Dolly Madison brand assets, which include Twinkies, Mini Muffins, Cup Cakes, Ho Hos, Zingers and Suzy Qs. The pair is also signed up to acquire five Hostess bakeries.

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