Buyout billionaire Leon Black isn’t the only one who wants his cake.
Black’s Apollo Global Management and veteran food exec Dean Metropoulos — the front-runners to buy Twinkies and other Hostess Brands snack cakes — must first survive a bankruptcy court auction on Wednesday that has other hungry suitors circling, The Post has learned.
Hostess creditor Silver Point Capital in the last few days has submitted a letter to Hostess’ bankers expressing interest in buying all or part of the Hostess business, a source said.
What’s more, Hurst Capital, a hedge-fund newcomer that wasn’t seen as much of a contender initially, has formed a partnership with other private-equity firms to make an offer, the source said.
In addition, Grupo Bimbo, the Mexico baking giant behind Brooklyn-founded Entenmann’s, is signaling it still wants a bite of the business.
Bimbo, Hostess and Silver Point declined to comment. Hurst Capital did not return calls.
In January, Hostess named Apollo and Metropoulos the so-called stalking horse bidders, giving them the inside track to buying the snack cake business.
Bidders have until 5 p.m. today to submit rival offers.
Hostess has been selling off its popular cake and bread brands as it winds down its operations. In November, the company closed its plants and laid off more than 18,000 workers after it failed to reach a deal on cost cuts with its bakers’ union.
Since then, Flowers Foods has agreed to buy most of the company’s bread business, including Wonder, in an uncontested auction.
Twinkies, however, is considered the bankrupt baker’s crown jewel and is proving to be far more tantalizing.
Silver Point, which in January issued Hostess $75 million in bankruptcy financing, made a play for the company in 2009, when the hedge fund partnered with Hostess CEO Craig Jung to try to buy the business the first time it filed for Chapter 11.
But Silver Point was thwarted when the Teamsters union representing Hostess truckers structured its own deal with private-equity firm Ripplewood Holdings, which took control of Hostess.
With the golden, cream-filled cakes gone from store shelves, Bimbo was supposed to launch its own line of knock-off cakes but keeps delaying it. One possible explanation: It might submit a bid for Hostess.
At the same time, Bimbo has ended contract talks with New York Teamsters drivers until it learns the outcome of the auction.
One issue for Bimbo is that it is still integrating its acquisition of Sara Lee bakeries, and most of the Hostess bakeries will need significant upgrades.
As a result, Bimbo could end up taking a run at Drake’s. Hostess has named Little Debbie maker McKee Foods the stalking horse for Drake’s.
Meanwhile, die-hard fans are eagerly awaiting the return of Twinkie.
Morton Williams Supermarket Sales Director Steve Schwartz told the Post his 11 New York City area stores have been filling the Hostess bread and snack shelf space with mostly healthier alternatives like sugar-free cakes.
Despite America’s growing disdain for junk food, he said that there are plenty of snack cake enthusiasts. “We’ve got to have it for the loyalists,” he said. “There will be demand. To what degree, that will be seen.”