Crumbs inks $66M purchase deal

Crumbs inks $66M purchase deal

57th Street General Acquisition Corp. to buy cupcake chain with plans to go public

The 34-unit Crumbs Bake Shop cupcake chain will be acquired for $66 million and taken public by 57th Street General Acquisition Corp., the companies said Monday.

The deal, slated to close in March, includes $27 million in cash and about $39 million in stock for Crumbs' owners. The New York-based chain was founded in 2003 by Jason and Mia Bauer, who will continue to serve as chief executive and chief creative officer, respectively.

After the transaction closes, Crumbs is expected

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