Investment bank Gordian Group hired by Hostess union in asset sale

Gordian Group was hired by the union and pension fund for Hostess Brands Inc (HTBRS.UL) to help preserve jobs and workers' benefits as the maker of Twinkies and Wonder Bread sells off its brands. A source close to Gordian Group says the investment bank was selected in part because of its experience working on behalf of employees in other restructurings. New York-based Gordian Group, which specializes in distressed cases, will represent more than 5,000 Hostess workers. It will provide conflict-free advice for the welfare of the company's workers as well. “We aim to be directly involved in the M&A process in a way the union hasn’t been to date,” Peter Kaufman, Gordian Group’s president, said in an interview on January 21, 2013. “We’re open to working with Flowers as well as other bidders for the brands, the assets and the company.”