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Lemonis Fischer Completes Acquisition of Crumbs Bake Shop

September 02, 2014, 08:01 AM
Filed Under: Bankruptcy

Lemonis Fischer Acquisition Company, LLC, a joint venture owned by Marcus Lemonis LLC and Fischer Enterprises, L.L.C., announced it completed the acquisition of the assets of New York-based cupcake company Crumbs Bake Shop.

Marcus Lemonis, host of CNBC's prime time reality series, The Profit, and CEO of Camping World and Good Sam Enterprises, stated, "We are very excited to have completed the Crumbs acquisition and start the exciting next chapter of the company. We have always believed in the strength of the Crumbs brand and its loyal customer base. Together with the Fischers and their high level of business expertise, we look forward to creating the nation’s ‘sweet and snack’ destination by continuing to offer the high-quality Crumbs cupcakes and adding additional high-quality products owned by myself and the Fischers."

“We are excited to leverage Marcus’ business turnaround expertise to revitalize the Crumbs brand and transform the company into a viable, ongoing business concern,” said Scott Fischer, Fischer Enterprises C.O.O. “We plan to broaden Crumbs’ appeal with an enhanced assortment of premier sweets and snack foods from the Fischer Enterprises and Marcus Lemonis portfolio of companies while maintaining an emphasis on the decadent cupcakes for which Crumbs is famous.”

Lemonis Fischer plans to re-open select Crumbs stores with the long-term goal of putting Crumbs employees back to work. Loyal and long-term Crumbs customers as well as potential new customers can expect to see retail stores reopen over the next several weeks in select cities including New York and Washington D.C. Lemonis Fischer aims to reinvigorate the brand and make Crumbs the stop-off point of choice for the dessert market.

Lemonis Fischer was the successful bidder for Crumbs’ assets through a voluntary Chapter 11 filing by Crumbs and received approval of the acquisition by the United States Bankruptcy Court for the District of New Jersey earlier this week.

Fischer Enterprises, the owner of frozen treat maker Dippin’ Dots, L.L.C., and Doc Popcorn, LLC is a privately held investment company based in Oklahoma City. Adding Crumbs to its portfolio of companies rounds out its product base and enhances the attractiveness of its portfolio assets. Dippin’ Dots and Doc Popcorn both serve national and international markets.

Marcus Lemonis is an entrepreneur, investor, television personality, and chairman and CEO of Camping World and Good Sam Enterprises. Lemonis is also known as the "business turnaround king" and host of CNBC's prime time reality series, The Profit, in which he lends his expertise to struggling small businesses around the country and judges businesses based on a "Three P" principle: People, Process, and Product.

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