The Lola cupcakes, the bakery chain which has become a familiar presence in the suburban rail stations and in the main shopping centers, is in advanced talks of a sale valuing it to more than 25 million pounds sterling.
Sky News learned that Finsbury Food, the specialized bakery company that was registered on the London Stock Exchange until it is taken care of in 2023, is in the days following the signing of an agreement to buy Lola.
City sources said Thursday that Finsbury Food should acquire a 70% stake in the chain of cupcakes, which is negotiated from dozens of points of sale and automatic distributors.
Lola’s Cupcakes was founded in 2006 by Victoria Jossel and Romy Lewis, who opened concessions in Selfridges and Topshop as well as a flagship store in Mayfair in London.
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The brand has increased considerably in recent years and now has a presence in stations such as Waterloo and King’s Cross.
The company employs more than 400 people and has a franchise operation in Japan.
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Lola’s belongs to Sir Harry Solomon, the first founder of food, and Asher Budwig, who is now the general manager of the Cupcake chain.
The agreement will be the most important acquisition carried out by Finsbury Food since its implementation of the London market almost two years ago.
Finsbury now belongs to Dbay Advisors, an investment company.
A spokesperson for Finsbury Food refused to comment.