Finsbury Food Group Expands with Lola's Cupcakes Acquisition
Deal News | Aug 16, 2025 | B Daily
Finsbury Food Group, a prominent baker headquartered in Cardiff, has expanded its growth prospects by acquiring a majority stake in Lola's Cupcakes. This move signals the group's entry into the direct-to-consumer market, an area ripe for growth and innovation. Lola's Cupcakes, based in London, generates an annual revenue of £25 million and sustains a workforce of approximately 400 employees. Despite the acquisition, Asher Budwig will continue to helm Lola's as its Managing Director. John Duffy, CEO of Finsbury Food Group, described the acquisition as a strategic step in their buy-and-build approach. Finsbury's transition from public to private came after its acquisition by DBAY Advisors, an Isle of Man-based asset manager, in 2023.
Sectors
- Food and Beverage
- Private Equity
- Retail
Geography
- United Kingdom – Both Finsbury Food Group and Lola's Cupcakes are based in the UK, making the geographical focus of the article the United Kingdom.
- Isle of Man – The acquisition of Finsbury Food Group by DBAY Advisors, located in the Isle of Man, brings this geography into consideration.
Industry
- Food and Beverage – The acquisition involves Finsbury Food Group, a company within the food and beverage sector, acquiring a stake in Lola's Cupcakes, which operates in the same sector.
- Private Equity – The article mentions DBAY Advisors, a private equity firm that acquired Finsbury Food Group, impacting the company's acquisition strategy.
- Retail – Lola's Cupcakes operates directly within the retail industry with kiosks and collection lockers, making it relevant to this sector.
Financials
- £25 million – Annual revenues of Lola's Cupcakes.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Finsbury Food Group | Acquirer | Company | A Cardiff-headquartered bread, cake, and morning goods maker entering the direct-to-consumer market. |
| Lola's Cupcakes | Target | Company | A London-based cupcake maker with significant online and physical presence. |
| DBAY Advisors | Owner of Acquirer | Company | An Isle of Man-based asset manager that acquired Finsbury Food Group in 2023. |
| Asher Budwig | Managing Director | Person | Managing Director of Lola's Cupcakes who will continue to lead the company post-acquisition. |
| John Duffy | CEO | Person | Chief Executive of Finsbury Food Group, steering the company's acquisition strategy. |