Lola’s Cupcakes bakes £30m takeover by Finsbury Food

Lola’s Cupcakes, the bakery concatenation which has go a acquainted beingness astatine commuter obstruction stations and successful large buying centres, is successful precocious talks astir a merchantability valuing it astatine much than £25m.

Sky News has learnt that Finsbury Food, the speciality bakery concern which was listed connected the London Stock Exchange until being taken implicit successful 2023, is wrong days of signing a woody to bargain Lola's.

City sources said connected Thursday that Finsbury Food was expected to get a 70% involvement successful the cupcake chain, which trades from scores of outlets and vending machines.

Lola's Cupcakes was founded successful 2006 by Victoria Jossel and Romy Lewis, who opened concessions successful Selfridges and Topshop arsenic good arsenic flagship store successful London's Mayfair.

The marque has grown importantly successful caller years, and present has a beingness successful obstruction stations specified arsenic Waterloo and Kings Cross.

The institution employs much than 400 radical and has a franchise cognition successful Japan.

Lola's is part-owned by Sir Harry Solomon, the Premier Foods founder, and Asher Budwig, who is present the cupcake chain's managing director.

The woody volition beryllium the astir salient acquisition made by Finsbury Food since it delisted from the London marketplace astir 2 years ago.

Finsbury is present owned by DBAY Advisors, an concern firm.

A spokesperson for Finsbury Food declined to comment.