Finsbury Food Group has acquired a majority stake in Lola’s, a bakery brand renowned for its hand-finished cupcakes, cakes, and brownies.
Lola’s has grown its business with its own stores, concessions, and online operation since it was founded in 2006 by two female entrepreneurs. Since 2011, it has been run by the father-and-son duo of Mario and Asher, with the support of investor Sir Harry Solomons.
The company now has more than 30 retail locations across London and Birmingham. The deal with Finsbury is expected to accelerate Lola’s expansion in the North, with ambitions to grow to more than 50 stores in the coming years.
“I am excited to be working with the Finsbury team on the next stage of Lola’s journey,” said Asher Budwig, Managing Director of Lola’s. “Over the past year, I have had the pleasure of getting to know them and seeing first-hand their impressive production facilities in Scotland.
“With their expertise in large-scale bakery and the wider support of the group, I am confident that we can grow Lola’s in ways that stay true to who we are. There is huge potential for collaboration, innovation, and sharing best practice – and of course, sharing plenty of cake along the way.”
Both Asher and Mario will remain in their current roles, with no changes to day-to-day operations or staffing anticipated as a result of the transaction.
