Tiff's Treats Closes $11 Million Funding Led by Dallas-based CIC Partners
Warm Cookie Delivery Company Continues Expansion; 22 Stores in Texas; 2 Locations in Atlanta Area; More Coming
November 1, 2016 – Austin, TX: Tiff's Treats, the beloved warm cookie delivery company, today announced it has closed another $11 million funding, led by Dallas-based private equity firm, CIC Partners. The funding round was made up almost entirely by current Tiff's Treats investors including CIC Partners, a group that together invested over $14 million in the company August 2014. This additional investment will accelerate retail expansion within Texas as well as into other markets around the country, bringing more "warm cookie moments" to more people.
"Tiff's Treats is adored by everyone that knows it, and that doesn't happen by chance," said Mike Rawlings, Partner at CIC Partners, former CEO of Pizza Hut and current Mayor of Dallas. "From my days at Pizza Hut, I can appreciate the immense complexity of the delivery business, and the Tiff's Treats team makes the customer experience seamless. At CIC Partners, our goal is to partner with top management teams, and this team fits the bill."
"As consumers, we've been huge fans of Tiff's Treats for years, and we jumped at the opportunity to make a small initial investment last year," said Fouad Bashour, Partner at CIC Partners and current Tiff's Treats board member. "During the past year, we've been fortunate to get to know Tiff, Leon, and the team better, and have been extremely impressed every step of the way. When the opportunity arose to invest more meaningfully in this round, we were first in line. We're incredibly optimistic about the brand's future and eager to continue working with the team during this next chapter."
In addition to CIC Partners, the Tiff's Treats investor base, board of directors and advisory board roster consists of high-level executives such as the former CMO of Papa Johns, Bob Kraut; former Global President of Starbucks, Joe Canterbury; former Global President of Whole Foods, Lee Valkenaar; former President of Zales and current Retail Connection founder, Alan Shor; former VP of Supply Chain of Pizza Hut, Sam Khoury; founder and President of CSID (recently acquired by Experian), Joe Ross; a founder of Windsor Quality Food Company, the billion-dollar food manufacturer, Anne Smalling; former CEO of Harden Healthcare, Lew Little; Capstar Partners Founder, Steve Hicks; and many more.
"We are humbled by the brilliant business people who are willing to invest their time and money into Tiff's Treats," said Tiff's Treats co-founder, Tiffany Taylor Chen. "We are adding the experience they bring from the brands they've built to the successful business model we've built with Tiff's Treats over the past 17 years. Combined with this financial investment, we are positioned for incredible growth." All Tiff's Treats locations deliver warm cookies, straight from the oven, to businesses and homes in four Texas cities and Atlanta. Tiff's Treats is a delicious idea for dessert delivery to your home or business, client gifts and meeting snacks, birthday gifts, a sweet-tooth fix and more. Baked fresh when you order from premium ingredients, all cookies and brownies are delivered warm, straight from the oven, in a white box complete with a colorful ribbon. For those who appreciate the experience of a warm cookie made from scratch (of only the finest ingredients and right out of the oven!), Tiff's Treats offers something thoroughly enjoyable, as it is the first company in the country to pioneer warm cookie and brownie delivery.
More About Tiff's Treats
Tiff's Treats created the warm cookie delivery concept. Tiff's Treats makes and delivers classic, baked-to-order cookies and brownies straight from the oven to the home or office, WARM, in about an hour. Founded in 1999, what started as two friends baking cookies at University of Texas at Austin to help fellow students get through exams has now grown to 24 stores in Texas and Georgia, baking more than 50 million cookies since its inception. And the company is consistently focused on giving back: with grand opening fundraisers that fill needs for charities (and hungry bellies for Tiff's fans!), Tiff's Treats has donated more than $100,000 to worthy causes. Tiff's Treats operates stores in the Atlanta, Austin, Dallas/Fort Worth, Houston, and San Antonio. The company was founded by Tiffany and Leon Chen, UT alumni from Richardson, TX. For more information, please visit http://www.cookiedelivery.com.
About CIC Partners
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, and energy industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its operating partners, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 25 years. For additional information, please visit http://www.cicpartners.com.