Finsbury builds the offer with premium bakery brand Lola’s
LEADING speciality baking firm Finsbury Food Group has acquired a majority stake in premium baked goods brand Lola’s Cupcakes.
Marking Finsbury’s first foray into the direct-to-consumer market, the firm has purchased a 70% stake in Lola’s Cupcakes and will combine the cupcake brand’s impressive e-commerce presence with a network of 45 kiosks and collection lockers across high-footfall locations.
The business generates annual revenues of £25million 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 benefitting from Finsbury’s expansive manufacturing expertise, scale and commercial reach.
Budwig said: “I’m thrilled to be working with the Finsbury team on the next chapter of Lola’s story. I’ve had the chance to get to know how the Group operates, and I’ve witnessed its strength, breadth and capabilities first-hand.
“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.”
This acquisition marks part of Finsbury’s own long-term growth strategy, which includes targeted investments in innovative, high-growth segments of the bakery market. This also marks the latest strategic acquisition of a business from Finsbury after the firm successfully acquired the Scottish baked goods firm Lees Foods in 2023.
By adding a direct-to-consumer capability to its portfolio, Finsbury has broadened its routes to market, strengthened its position in the UK celebration cake and cupcake sector and created new opportunities for innovation and collaboration for the firm.
John Duffy, chief executive at Finsbury Food Group, said: “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.”
