Marcus Lemonis, star of CNBC's The Profit and chairman and CEO of Camping World and Good Sam Enterprises, acquired Little Miss Muffin, a Chicago-based commercial baker and co-packer of baked goods such as muffins, cupcakes, pastries, pies and a host of gluten-free desserts for coffee retailers, airlines, club stores, grocers, schools, foodservice distributors, department stores and independent, catalog and specialty retailers.

"We look forward to becoming part of the Little Miss Muffin community and are excited to rename the business to Little Miss Baker, broadening our portfolio of baked goods and co-packing products and services," says Lemonis. "As a co-packer, our goal is to be a valuable resource for retail and foodservice customers and consumers nationwide."

Through CNBC's The Profit, a reality show where Lemonis turns around troubled companies, he has become an investor in several treats companies, including Key Lime Pie Co. and Mr. Green Tea Ice Cream. Lemonis also made recent news announcing he would partner with Wicked Good Cupcakes and financially aid Crumbs Bake Shop, which filed Chapter 11 bankruptcy.

"Kenny [Munic] will remain president of Little Miss Baker," adds Lemonis. "He brings invaluable experience in the industry, and his knowledge and expertise will be vital as we expand our footprint in this space."

"We've had tremendous growth over the past 21 years, and I attribute that to our product quality and consistency focusing on hand-crafted and hand-finished goods," says Munic. "This partnership gives us the talent and resources to take the company's development to the next level. We will now be better equipped to give our customers a faster turnaround and assist with additional elements such as regulation, marketing, package design and sales to ultimately bring product to market more quickly."