by Gwen Moritz
Posted 11/28/2012 07:31 am
Updated 6 months ago
A Pine Bluff company whose incorporation has been revoked by the Secretary of State's office filed a motion Monday to purchase Hostess Brands Inc., the bankrupt Twinkie-baker.
Cookies & Sweets Bakeries LLC told U.S. Bankruptcy Court in New York that it planned to "go public approximately Dec. 8, 2012." In its motion (PDF), Cookies & Sweets said it has a "northern headquarters" in Detroit, which would be the headquarters of Hostess Brands if its attempt to purchase the company is successful.
Cookies & Sweets was incorporated in Pine Bluff in February 2008 by James Davis, according to the Arkansas Secretary of State's records, but its status is listed as revoked, which generally means the annual franchise tax has not been paid.
Davis, reached at the Detroit phone number included in the filing, said he was "restructuring" his business, including moving it from Pine Bluff, where he attended the University of Arkansas at Pine Bluff, to Detroit, his hometown. The company is not currently in production, he said.
Asked whether he had the money to buy Hostess, Davis said, "There's actually several ways I could do it." One is through the initial public offering of stock, which he would like to accomplish on his 43rd birthday next month. He confirmed, however, that he has not filed any preliminary paperwork with the Securities & Exchange Commission.
Another route might be through a bond issue, he said, "or the investment banker route, get three or four of those together."
The motion by Cookies & Sweets says that it was filed "by and through" an international law firm called Paul Weiss Rifkind Wharton & Garrison, but it also says that Cookies & Sweets "is waiting for specific counsel for this case." The Paul Weiss firm did not immediately respond to an emailed inquiry about its representation of Cookies & Sweets.
Davis said he had never done business with the Paul Weiss firm before. "I was just looking for a firm that was definitely in New York and could get this done," he said, because he hoped to move swiftly enough to keep Hostess employees from losing their jobs.
No response to Cookies & Sweets' motion had been entered on Tuesday.