date:Nov 19, 2012
UK food firm Finsbury has raised 3.9 million to fund investment in its cake business after selling 104 million shares.
The firm, which makes own label and branded cakes under licence for companies such as Nestle and Thorntons, said that the investment would enable it to expand its brand portfolio and enhance efficiency through new manufacturing and automation technology. Finsbury expects the investment to eventually deliver an annual benefit of 2 million.
Several Finsbury executives have take