London-listed Cake Box will get totally baked supply from Australia

Cake Box Holdings, the London-listed bakery chain, has acquired a takeover strategy from a privately owned Australian group.

Sky News has learnt that The Cheesecake Shop has tabled a 160p-a-share proposal to purchase the British firm.

City sources stated the bid, which has not been publicly disclosed, was unlikely to realize assist from the Cake Box board.

It was unclear on Wednesday night whether or not any discussions have been ongoing between the 2 corporations.

Cake Box trades from about 230 shops throughout the UK, and floated in London in 2018 at a worth of 108p-a-share.

However, it was hit by an audit disaster in 2022 after admitting “inconsistencies” in its monetary reporting.

Last month, the corporate stated full-year earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) had fallen by almost 1 / 4, including that inflation was beginning to soften “which will support margin progression over the medium term”.

The firm continues to be run by Sukh Chamdal, its chief govt and co-founder.

Shares in Cake Box closed on Wednesday at 150p, down a few fifth over the last yr, and really sharply down from their post-IPO peak.

The Cheesecake Shop is owned by Melbourne-based personal fairness agency River Capital, and trades from roughly 225 shops, in response to its web site.

A spokesman for Cake Box declined to remark.