Police identified Jeffrey Teal Jr. from photographs taken by the girls' mother the day of the incident and Teal later allegedly admitted to taking the money, The (Newark, N.J.) Star-Ledger reported Sunday.
Alyssa Sapia, 8, and her 12-year-old sister Jessica were selling cookies outside a Walgreens store in East Brunswick a few weeks ago and noticed the man hanging around.
The suspect allegedly waited until the girls were alone before walking up to them and taking their moneybox. "Sorry, I have to do this," he allegedly told them.
The suspect escaped on foot with the moneybox, but was arrested a few days later by police who used a photograph taken by Maria Sapia, the girls' mother, to identify him.
Sympathetic onlookers reportedly gave the girls enough money to cover the amount stolen.