Leading speciality bakery manufacturer and Cardiff headquartered Finsbury Food Group has acquired a majority stake in premium cupcake and celebration cake business Lola’s Cupcakes.

The deal for a 70% equity stake, the value of which isn’t being disclosed, marks Finsbury’s entry into the direct-to-consumer market.

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. It will continue to be led by managing director Asher Budwig, while benefiting from Finsbury’s manufacturing expertise, scale and commercial reach.

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