By Abigail Summerville
NEW YORK (Reuters) – The owners of Crumbl are exploring a sale that could value the popular cookie chain at nearly $2 billion, including debt, according to people familiar with the matter.
The Lindon, Utah-based bakery franchise chain is working with investment bank North Point on a sale process that could attract interest from private equity firms, the sources said, requesting anonymity as the matter is confidential.
The owners of the cookie chain are hoping to command a valuation for the business equivalent to more than 10 times its annual earnings before interest, taxes, depreciation, and amortization of nearly $150 million, the sources said.
Crumbl and North Point did not immediately respond to requests for comment.
Launched in 2017 by cousins Jason McGowan and Sawyer Hemsley, Crumbl in recent years has amassed a sizable social media following across platforms such as TikTok, Instagram, and YouTube.
The…
