Ice cream, cupcake deal closes
The Oklahoma City-based owner of Dippin’ Dots ice cream and Camping World CEO Marcus Lemonis closed Friday on their acquisition of the cupcake chain Crumbs Bake Shop. “We are excited to leverage Marcus’ business turnaround expertise to revitalize the Crumbs brand and transform the company into a viable, ongoing business concern,” Scott Fischer, Fischer Enterprises chief operating officer said in a statement. “We plan to broaden Crumbs’ appeal with an enhanced assortment of premier sweets and snack foods from the Fischer Enterprises and Marcus Lemonis portfolio of companies while maintaining an emphasis on the decadent cupcakes for which Crumbs is famous.” Lemonis Fischer was the successful bidder for Crumbs’ assets through a voluntary Chapter 11 filing by Crumbs and received approval of the acquisition by the United States Bankruptcy Court for the District of New Jersey. Fischer Enterprises, the owner of frozen treat maker Dippin’ Dots L.L.C. and Doc Popcorn LLC is a privately held investment company based in Oklahoma City. “Adding Crumbs to its portfolio of companies rounds out its product base and enhances the attractiveness of its portfolio assets,” it said in a news release.
Mercy names two officers
TULSA — Mercy on Friday announced the appointment of Sara Bradley as chief financial officer and Rhett Stover as interim chief executive officer for the Oklahoma State University Medical Center in Tulsa. Mercy began managing the downtown Tulsa hospital in May. Before coming to OSU Medical Center, Bradley worked for Mercy as vice president of finance in Hot Springs, Ark. Stover is Mercy’s regional vice president of payer relations and contracting, but will transition to the new interim CEO position over the next few weeks while Mercy searches for a permanent CEO.
Bank discusses activity level
BancFirst Corp. has issued a statement regarding recent unusually high trading activity and increased market price of its 7.20 percent cumulative trust preferred securities, traded under the symbol BANFP. In a regulatory filing, the company stated it does not know of any reason for, or the source of, the trading activity, which appears to have begun this month. The securities pay a quarterly dividend of 45 cents a share, with a stated maturity of March 31, 2034. They are callable at any time at the par value of $25 a share.
Book company sets dividend
TULSA — Educational Development Corp. on Friday declared a quarterly cash dividend of 8 cents a share. The dividend will be paid on Sept. 19. Educational Development Corp. sells children's books through 5,000 retail stores and over the Internet. More than 1,600 different titles are available for children of all ages, with periodic new additions.
Lowe’s gives paint grant
Lowe’s has awarded a $10,000 grant to Keep Oklahoma Beautiful to support a local organization engaged in building and sustaining vibrant communities. The Lowe’s Community Partners grant will provide funding for the 2014 Fresh Paint Days Program. Fresh Paint Days is a Keep Oklahoma Beautiful project designed to encourage volunteers to seek out unsightly community structures and renovate them. Volunteers will make use of paint donated by H.I.S. Coatings of Oklahoma City and a stipend for supplies provided by the grant and the Public Service Co. of Oklahoma to transform the community blemish in a few days.
From Staff Reports