Money Moves: Crumbl Cookie Empire Eyes $2 Billion Sale Amid Growing Interest

The Crumbl cookie empire could soon have new owners, with an alleged sale looming.

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The owners are reportedly exploring a deal that values the beloved franchise at nearly $2 billion, including debt, sources familiar with the situation revealed to Reuters. The Lindon, Utah-based bakery chain, known for its distinctive pink boxes and viral social media presence, has engaged investment bank North Point to navigate the sale process. This strategic move is expected to draw attention from private equity firms eager to capitalize on Crumbl’s steady revenue streams.

With over 1,071 locations across North America, Crumbl has grown rapidly since its 2017 debut in Logan, Utah, where co-founder Sawyer Hemsley was completing his degree at Utah State University. Alongside cousin Jason McGowan, Hemsley turned the dessert chain into a household name, amassing millions of followers on platforms like TikTok and Instagram.

Sources indicate that Crumbl seeks a valuation exceeding 10 times its annual earnings, which hover around $150 million before taxes and depreciation. As private equity firms increasingly acquire franchise operators for their stable royalty fees and operational efficiency, Crumbl’s appeal is evident. Recent deals in the sector, such as Verlinvest and Mistral Equity Partners’ $350 million acquisition of Insomnia Cookies, underscore the trend.

Neither Crumbl nor North Point provided immediate comments. The cookie giant’s potential sale follows a surge of franchise acquisitions, positioning it as a significant player in the evolving landscape of franchise-based investments.