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A bankruptcy judge on Tuesday approved the sale of Twinkies to a pair of investment firms, one of which has said it hopes to have the cakes back on shelves by summer. Hostess Brands Inc. is selling Twinkies, Ding Dongs, Ho Hos and other brands to Apollo Global Management and Metropoulos & Co. for $410 million. Evan Metropoulos, a principal of the latter firm, said in an interview that he wants to have the snack cakes back on shelves by June and that the brands could benefit from new flavors and other product extensions.

Private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co are near a deal to buy snack cake brands including Hostess Twinkies and Donettes, two sources familiar with the matter said on Tuesday.

The McGraw-Hill Companies Inc has found a buyer for its textbook business, a unit that once steadied its results against the ups and downs of financial markets faced by its Standard & Poor's rating agency. Private equity firm Apollo Global Management LLC will buy McGraw-Hill's educational publishing unit for $2.5 billion, McGraw-Hill said on Monday.