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57th Street General Acquisition Corp. (the “Company”) (NASDAQ: CRMB), owner of Crumbs Holdings, LLC (“Crumbs”), a national neighborhood bakery and the largest U.S.-based retailer of cupcakes, today announced a partnership with Dawn Food Products, Inc. to be its exclusive consolidated supplier of raw materials for its contract bakery manufacturers throughout the country.
Dawn Food Products, Inc., a company with over 90 years of experience and knowledge in the industry, is a full-service bakery supplier known for providing the highest quality bakery products. Dawn’s expansive distribution network, which consists of 26 company owned facilities across North America as well as internationally, will greatly improve Crumbs supply chain logistics in virtually every market.
Jason Bauer, Co-Founder of Crumbs and CEO and President of the Company stated, “Partnering with Dawn Foods is a natural fit for our business model. It gives our contract manufacturers the supplier consistency we need to support our aggressive growth plan and affords us greater control over cost of goods sold through the increased transparency of the price of goods entering our bakery partners. In addition, this relationship will result in improved product quality through tighter inventory control while providing a sound foundation for our supply chain by ensuring a reliable stream of required ingredients.”
Mr. Bauer concluded, “We look forward to a long, valuable relationship with Dawn Foods, a company that shares our passion and dedication to providing excellent quality baked goods that add to the joy of life’s celebrations.”
About the Company and Crumbs Holdings LLC
The Company was formed in Delaware in October 2009 and acquired its interest in its subsidiary, Crumbs Holdings LLC, in May 2011. The first Crumbs bake shop opened its doors in March 2003 on the Upper West Side of Manhattan by co-founders Mia & Jason Bauer. The design of Crumbs Bake Shops is inspired by old-time neighborhood bakeries, creating a warm and friendly environment with wall-to-wall treats. Recently ranked the largest retailer of cupcakes nationwide and one of Inc. Magazine’s 10 Breakout Companies of 2010, Crumbs currently has 35 locations, including 25 locations in the New York Metro area, six locations on the West Coast, two locations in Washington, D.C., one location in Virginia and one location in Chicago. The specialty of the house is cupcakes; however, the menu also includes an irresistible blend of comfort-oriented classics and elegant baked goods. There are more than 60 varieties of cupcakes baked fresh daily with a new cupcake of the week debuting each Monday.