Bakery manufacturer Finsbury Food Group buys Lola’s Cupcakes
Lola’s will still be led by Asher Budwig.
Finsbury Food Group, a speciality bakery manufacturer, has acquired a 70% stake in Lola’s Cupcakes (Holdings) Ltd (“Lola’s”), the premium cupcake and celebration cake business, for an undisclosed amount.
Lola’s combines a strong e-commerce platform, which accounts for around half of sales, with a network of 45 kiosks and collection lockers in high-footfall locations, including major London transport hubs.
The business generates annual revenues of £25m and employs around 400 people, operating from its Park Royal facility in London.
After the acquisition, the brand will still be led by Managing Director Asher Budwig, with the brand leveraging Finsbury’s manufacturing expertise, scale and commercial reach.
Finsbury Food Group supplies a range of bread, cake and morning goods products to multiple retailers, foodservice and export customers across the UK and Europe.
According to Finsbury, this acquisition is part of the business’s long-term growth strategy, which includes targeted investments in innovative, high-growth segments of the bakery market.
“With Finsbury’s expertise in manufacturing, and the broader support of the Group, I’m confident we can take Lola’s to exciting new heights by building on what we’ve already achieved and exploring new opportunities together.” Asher Budwig, Managing Director of Lola’s, said.
