Finsbury Food plans to buy Johnstone's Just Desserts

Finsbury Food Group has revealed plans to acquire Johnstone's Just Desserts from administrators FRP Advisory, the company confirmed on Wednesday.

The acquisition is part of its strategy to expand its presence in the coffee shop market.

Finsbury Food said the move will save 150 jobs. The company added it expects the Johnstone's Just Desserts deal to be completed as soon as possible, but it is conditional to property lease details.

Chief executive John Duffy said: "Johnstone's Just Desserts will be a bolt on acquisition and is in line with our strategy to diversify into new channels.

"This illustrates the group's continued reach into the foodservice 'out of home eating' market and the broadening of our product offering and customer base."

Shares were up 0.18% to 79.14p on Wednesday at 10:46.