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New York investment banker group to advise Hostess' bakery union

Source: Reuters

- Last modified: January 21, 2013 at 2:25 PM

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The union and pension fund for Hostess Brands Inc (HTBRS.UL) has hired Gordian Group, an investment bank specializing in distressed cases, to help preserve jobs and workers' benefits at the bankrupt maker of Twinkies snack cakes as Hostess negotiates with buyers.

New York-based Gordian, which has no institutional loyalties to funds or bondholders in Hostess, will provide conflict-free advice for the welfare of the company's workers, The Bakery and Confectionery Union and Industry International Pension Fund (Bakers Fund) said.

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