Pricey cupcakes - your chance to invest

crumbs_bakeshop.gi.top.jpgInvestors will be able to buy into gourmet bakery Crumbs in a deal aimed at making it a public company later this year. By Aaron Smith, staff writer


NEW YORK (CNNMoney) -- Investors who want to invest in the national cupcake craze will soon be able to buy into the gourmet bakery Crumbs.

New York-based Crumbs Holdings said it is being acquired by the 57th Street General Acquisition Corp. in a proposed transaction that is expected to close in March. The company will then change its name to Crumbs Bake Shop and seeking a listing on the Nasdaq National Market.

Jason Bauer, co-founder and chief executive officer of Crumbs, said that going public will help the company achieve its plan of expanding to 200 locations by 2014.

Founded in 2003 in Manhattan, Crumbs has already expanded to 34 stores in six states and Washington, D.C.

Crumbs said that, based on preliminary estimates, it earned between $1.7 million and $1.9 million in 2010 on sales of $31.1 million.

Revenue is expected to climb to between $45 million and $50 million this year, and to between $85 million and $90 million in 2012, with profit rising to between $3.1 million and $3.9 million this year and between $8 million and $9 million next year. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 16,493.37 -69.93 -0.42%
Nasdaq 4,352.64 -17.13 -0.39%
S&P 500 1,925.15 -5.52 -0.29%
Treasuries 2.50 -0.05 -2.00%
Data as of 7:48pm ET
Company Price Change % Change
Bank of America Corp... 14.98 -0.27 -1.77%
Apple Inc 96.13 0.53 0.55%
Facebook Inc 72.36 -0.29 -0.40%
General Electric Co 25.35 0.20 0.80%
Ford Motor Co 16.81 -0.21 -1.23%
Data as of 11:29am ET

Sections

P&G announces it is selling or closing about 90 smaller brands to focus on its 70 to 80 major brands. More

Terrell White has had a profit-sharing plan for his employees since 1981, believing that if the staff isn't happy, guests won't be either. More

Millennials are spending big money on coffee, alcohol and fast food. Here's where they're spending the most and how much, according to budgeting app Level Money. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.