The private equity investor which took Finsbury Food Group private in 2023 is baking plans for a sale of the speciality cake maker.
Sky News understands that DBAY Advisors has appointed advisers to prepare an auction of the business which would kick off in the coming months.
Finsbury Food Group owns a majority stake in Lola's Cupcakes, a brand found at numerous railway stations across London.
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It also works with more than 20 character licence-owners, including Disney, Hasbro and Nintendo, to produce branded cakes.
The company's Warner Bros partnership includes a licence to produce Harry Potter-themed products.
Finsbury Food Group was listed on the London Stock Exchange until the deal with DBAY, a private equity firm which has targeted a string of public companies.
It was valued at about £150m in the deal.
Since then, the company has acquired a number of other bakery assets, including Lola's and Flower & White, a snacking brand.
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City sources said that Stephens, the investment bank, had been mandated to oversee the process.
DBAY has been contacted for comment.
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