Hostess Brands, the bankrupt maker of Wonder bread and Twinkies, picked the team of Apollo Global Management and C. Dean Metropoulos & Co. as the lead bidder for its cake brands, said two people with knowledge of the matter.The assets include some facilities, said one of the people, who asked not to be named. The offer becomes the so-called stalking horse for an auction of the cakes business, meaning it sets the standard that other suitors have to beat.Melissa Mandel Kvitko, a spokeswoman for Apollo with Rubenstein Associates Inc., declined to comment on the process. Daren Metropoulos, a principal at C. Dean Metropoulos, based in Greenwich, Conn., didn't immediately respond to an e-mail seeking comment. Metropoulos, a former partner with Dallas private equity investor Tom Hicks on food industry acquisitions, also owns the Pabst Blue Ribbon beer brand. The New York Post said yesterday that the parties were likely to win the stalking-horse role.Bankrupt Hostess announced plans to liquidate more than two months ago after failing to resolve a strike that crippled operations. Hostess's cake products include the CupCakes, Ding Dongs and Ho Hos labels. The Irving-based company filed for Chapter 11 in January 2012.