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Finsbury Food Group has acquired a 70% stake in Lola’s Cupcakes, a UK-based player in the premium cupcake and celebration cake sector. This acquisition marks Finsbury's inaugural foray into the direct-to-consumer segment, aligning with its long-term growth strategy.

Lola’s, known for its strong ecommerce presence, generates approximately half of its £25 million annual revenue through online sales. The brand operates a network of 45 kiosks and collection lockers strategically located in high-traffic areas, including major transport hubs in London.

With a workforce of around 400 employees based at its Park Royal facility, Lola’s has established itself as a beloved UK brand with a reputation for quality and innovation.

John Duffy, chief executive of Finsbury Food Group, said: “Today marks an exciting milestone in the trajectory of Finsbury Food Group as we welcome Lola’s into the family".

He continued: "This acquisition not only underscores our commitment to a buy-and-build strategy but also enables us to penetrate the direct-to-consumer market for the first time. With Lola’s strong digital presence and entrepreneurial spirit, we see significant potential for growth and innovation.”

The integration of Lola’s into Finsbury’s operations is expected to leverage the latter’s extensive manufacturing expertise and commercial reach, providing new avenues for product development and market expansion.

Asher Budwig, managing director of Lola’s, added: “I’m thrilled to be working with the Finsbury team on the next chapter of Lola’s story. With Finsbury’s manufacturing capabilities and support, I’m confident we can elevate Lola’s to new heights.”

The acquisition follows Finsbury’s transition from public to private ownership in 2023, when Isle of Man-based asset manager DBAY Advisors took control of the business. The move to acquire Lola’s is part of Finsbury's broader strategy to diversify its offerings and scale operations within the bakery market.