Crumbl Cookie Empire plans to sell for $2 billion, interest grows

Crumbl Cookie Empire plans to sell for billion, interest grows

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The Crumbl cookie empire may soon have a new owner, with a sale said to be imminent. The owners are exploring a deal that would value the beloved franchise at nearly $2 billion, including debt, people familiar with the matter told Reuters. The Lindon, Utah-based bakery chain known for its distinctive pink boxes and viral social media presence has hired investment bank North Point to guide the sales process. This strategic move is expected to attract the attention of private equity firms eager to capitalize on Crumbl's steady revenue stream. With more than 1,071 locations across North America, Crumbl has grown rapidly since its 2017 debut in Logan, Utah, where co-founder Sawyer Hemsley was based. He earned his degree from Utah State University. Along with his cousin, Jason McGowan, Hemsley turned the dessert chain into a household name, amassing millions of followers on platforms like TikTok and Instagram. Crumbl is seeking a valuation of more than 10 times its annual earnings, which hover around $150 million before taxes and depreciation, sources said. As private equity firms increasingly acquire franchisees for stable royalties and operational efficiencies, Crumbl's appeal is clear. Recent deals in the sector, such as the $350 million acquisition of Insomnia Cookies by Verlinvest and Mistral Equity Partners, highlight this trend. Neither Crumbl nor North Point were immediately available for comment. The potential sale of the biscuit giant follows a surge in franchise acquisitions, positioning it as a key player in the evolving landscape of franchise investing. Like this: Like Loading… Discover more from Baller Alert Subscribe to have the latest posts delivered to your email.

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