Finsbury Food Group Buys Majority Stake In Lola’s Cupcakes

Lola’s cupcakes. Credit: Finsbury Food Group

UK bakery shaper Finsbury Food Group has acquired a 70% liking successful direct-to-consumer business Lola’s Cupcakes for an undisclosed sum.

Finsbury Food Group, which supplies bakery products to retailers and foodservice customers, said nan acquisition was portion of a strategy to make “targeted investments successful innovative, high-growth segments” of nan market.

Lola’s Cupcakes sells cakes and brownies done its ain stores and via nan DTC channel. E-commerce accounts for astir half of nan company’s sales, pinch nan business utilizing 45 kiosks and postulation lockers.

In 2024, Lola’s Cupcakes generated a turnover of £26.2m ($35.5m), up from £24.9m a twelvemonth earlier. The company’s profit aft taxation was £1.6m compared to conscionable nether £610,000 successful 2023. The business employs astir 400 people, operating from a installation successful northbound London.

John Duffy, nan CEO of Finsbury Food Group said described nan woody arsenic “an breathtaking milestone” for nan company.

He added: “It represents different measurement guardant successful Finsbury’s acquisition travel arsenic a buy-and-build business, allowing america to participate nan direct-to-consumer marketplace for nan first time.

“Lola’s is an entrepreneurial and much-loved UK marque pinch a beardown integer presence, and together, we spot important imaginable for maturation and invention crossed some Finsbury and Lola’s.”

Lola’s Cupcakes will proceed to beryllium led by managing head Asher Budwig, who said: “With Finsbury’s expertise successful manufacturing, and nan broader support of nan group, I’m assured we tin return Lola’s to breathtaking caller heights by building connected what we’ve already achieved and exploring caller opportunities together.”

Finsbury was sold to Isle of Man-based plus head DBAY Advisors two years ago 8 months aft nan baker had snapped up UK barroom shaper Lees Foods.