London Stock Exchange welcomes Cake Box Holdings plc to AIM
London Stock Exchange today welcomes Cake Box Holdings plc, the specialist retailer of fresh cream cakes, onto the Alternative Investment Market (AIM) of London Stock Exchange.
Cake Box is a franchise retailer of cakes with a growing store base across the UK. The first concept store opened in East London in 2008 from which the Group has grown to a franchise estate of 91 stores as at 13 June 2018. The Group specialises in making high quality, individually-crafted and personalised fresh cream cakes for purchase on demand or ordered in advance in store or online. In March 2018, Cake Box was recognised as one of the 100 fastest growing companies by turnover in the UK in the 2018 Sunday Times Virgin 100 Fast Track league table.
The successful placing, which was oversubscribed, values the Company at £43.2m. Shore Capital acted as Nominated Advisor and sole Broker to the Company, with MHP Communications advising on financial PR.
Sukh Chamdal, Chief Executive Officer of Cake Box, commented:
"Our IPO is the latest phase of an exciting journey for Cake Box and I am delighted with the reception we have received.
"Over the past decade, we have built a fast-growing franchise business, with a strong financial track record and history of profitable expansion, and I would like to personally thank all Cake Box franchisees, staff and suppliers for their contributions, as well as welcoming our new investors.
"Looking ahead, we are confident that we have all the ingredients to continue to grow our franchise estate to 250 stores and further expand our slice of the sizeable UK cake market, with a unique customer proposition and no direct national competitor for egg-free, fresh cream, personalised cakes.”