Team News Portfolio Giving Photos HOSTESS BRANDS, LLC Setting the stage for “the sweetest comeback in the history of ever,” Metropoulos & Co. and Apollo Global Management in April of 2013 acquired select snack cake assets from the Old Hostess company, which liquidated in 2012 – shuttering all operations and sounding the death knell for America’s most iconic snack cake brand. Urban legends aside, Twinkies’ shelf life was at the brink of expiration – to the horror of consumers coast to coast. Grassroots “save the Twinkie campaigns” sprouted in the heartland. The social media universe lit up with passionate consumer pleas. There was even a White House petition asking the president to “nationalize the Twinkie industry.” Fans began stockpiling their beloved treats. As the last shipment of products hit shelves, media reported: “Twinkie Madness Hits Chicago.” It appeared, however, that all was for naught, as there was no meaningful interest by investors in the Old Hostess company, which had filed for bankruptcy twice in eight years under multiple owners. But, in fact, a miracle comeback was in store. In just three months, the new ownership had created more than 1,000 new jobs, re-opened four bakeries and produced more than 100 million snack cakes to reintroduce Hostess to America in July of 2013. Just three years later, the team had created a billion dollar business, executing a plan that has been described as a “Harvard Business School Case study in how to turnaround a business.” The reinvention of Hostess is not a story about shedding liabilities. The Metropoulos/Apollo partnership re-created a business through massive investment to improve bakery facilities and overall operations, a new, broader and more efficient distribution strategy, a relentless focus on innovation, and creative marketing to ensure Hostess products remained relevant to new generations of consumers. Having been left for dead, Hostess reclaimed the mantle of a snack cake super power. And interest was not just limited to consumers. On November 4, 2016, through a deal with the publicly traded special-purpose acquisition company, Gores Holdings Inc., Hostess Brands listed on the Nasdaq under the symbol TWNK, a capstone to a storied revival led by a hands-on leadership team. The Wall Street Journal Hostess Brands, Maker of Twinkies, Swings to Quarterly Profit Hostess Brands, Maker of Twinkies, Swings to Quarterly Profit November 10, 2016 The Wall Street Journal Hostess Brands, Purveyor of Twinkies and Ho-Hos, Returning to Wall Street November 4, 2016 The Wall Street Journal The Secret to Hostess’ Comeback: Making the Same Old Twinkies November 3, 2016 Forbes Twinkies Miracle Comeback: The Inside, Untold Story of a $2 Billion Feast April 15, 2015 Featured Case Studies Setting the stage for “the sweetest comeback in the history of ever,” Metropoulos & Co. and Apollo Global Management in April of 2013 acquired select snack cake assets from the Old Hostess company FULL CASE STUDY Under the Metropoulos’ leadership, Pinnacle became a leading manufacturer of high quality, branded convenience food products, focused on frozen and dry food segments. FULL CASE STUDY Under the leadership of co-CEOs Evan Metropoulos and Daren Metropoulos, the company’s flagship brand, Pabst Blue Ribbon, experienced a remarkable resurgence, as did its portfolio of several regional brands FULL CASE STUDY View our investment portfolio. Tel: 310.695.1941 Fax: 310.695.1979 info@metropoulos.com