Finsbury Food completed the acquisition of a majority stake in Lola’s Cupcakes for £22.5m.

Finsbury Food, a bakery manufacturer, agreed to acquire a majority stake in Lola’s Cupcakes, a cupcake and celebration cake business, for £22.5m. “Today marks an exciting milestone in the trajectory of Finsbury Food Group as we welcome Lola’s into the family. It represents another step forward in Finsbury’s acquisition journey as a buy-and-build business, allowing us to enter the direct-to-consumer market for the first time. Lola’s is an entrepreneurial and much-loved UK brand with a strong digital presence, and together, we see significant potential for growth and innovation across both Finsbury and Lola’s,” John Duffy, Finsbury Food Chief Executive.