"For a company with nearly 1100 stores and an estimated value of $2 billion including debt, you'd imagine Crumbl Cookies as a slick corporation with multiple investors and high-powered marketing wizards. While things are leaning slightly closer to that in 2025, it's certainly not what's defined the Utah-based company since launching in 2017. In fact, the two cofounders, cousins Jason McGowan and Sawyer Hemsley, still run the company much as they did from the beginning, now splitting chores as CEO and Chief Brand Officer, respectively."
"In May 2025, Crumbl announced an investment from TSG Consumer Partners, a private equity firm known for helping brands scale to the next level, including now-popular brands like Insomnia Cookies and Dutch Bros. When it comes to Crumbl, TSG takes only a minority stock in the company, using what's known as preferred equity. This means the group doesn't take control of the company but still gets first dibs on profits."
Crumbl Cookies operates nearly 1,100 stores and carries an estimated $2 billion valuation including debt. The company launched in 2017 and continues to be led day-to-day by cofounders and cousins Jason McGowan and Sawyer Hemsley, who serve as CEO and Chief Brand Officer, with Bryce Redd as Chief Technology Officer. In May 2025, Crumbl accepted a minority preferred-equity investment from TSG Consumer Partners while securing about $500 million in private credit from Blackstone and Golub Capital. The financing aims to support scaling and partnerships while preserving founder control and the company’s Utah roots.
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