"It's a very stable business that does as well in a bad economy as in a good one", Gores said in remarks reported by The Times.
In an effort to increase efficiency, 600 thrift stores which had formerly sold Hostess products were shuttered.
This deal means Gores will be able to make Hostess a publicly-traded company without Hostess having to undergo an IPO.
Apollo and Mr Metropoulos bought Hostess for $410m and restructured the company.
"We think of ourselves as a billion-dollar startup", said Toler, who will continue as CEO.
The regional bakery model used by many competitors was inefficient, according to Hostess, which added that $130m of investment had gone into making Hostess business highly efficient and automated.
Still, private equity firms Apollo Global Management LLC (NYSE:APO) and C. Dean Metropoulos & Co. saw opportunity in Hostess Brands - and why not?
Its comeback has been bittersweet as the new owners remade it into a much leaner operation.
Premier's operational bakery and flour milling estate, associated distribution network and assets transfered to the joint venture.
Gores Group owns stakes in companies such as UK-based bread maker Hovis. Here locally, more product lines have been developed and produced over the past two years and employment has gone well above initial estimates.
Hostess Brands, the maker of Twinkies confectionery bars, is to be floated on the stock market with an expected valuation of US$2.3bn. It sat there for four years and once again went back there in 2012 for the second time. "That would give Hostess the ability to raise additional capital from the stock markets to pay for acquisitions or pay down some of its debt". "We have room to grow and we will expand in depth and breadth".
Hostess, which is based in Kansas City, Mo., operates baking facilities in Emporia, Kan., Indianapolis, and Columbus, Ga.
Presumably, Hostess will also keep doing a lot of what they've been doing to promote the brand. Gores said the firm looked at about 30 companies before settling on Hostess as its acquisition target.
By 2012, the company had failed, bakery union contracts were severed and the brands disappeared from store shelves.