Bloomberg reports Hostess Brands Inc., the bankrupt maker of Wonder bread announced Apollo Global Management and C. Dean Metropoulos & Co. agreed to pay $410 million for the majority of its snack business, including its iconic Twinkies.

In a court filing on Mar. 11, Hostess said the only qualified bid received by a court deadline came from Apollo, Leon Black’s private-equity firm, and Metropoulos, a private- equity firm that owns Pabst Brewing Co. In a statement today, the company confirmed them as the winning bidders.

“Accordingly, pursuant to the bidding procedures order, no auction will be conducted and buyer is the successful bidder,” the lawyers said in a filing yesterday in U.S. Bankruptcy Court in White Plains, New York.

View the entire Bloomberg story.