Publication:

London Evening Standard - 2021-11-25

Data:

TUCKING IN £10M PAYDAY FOR CAKE BOX CHIEFS

Business

THE boss of Enfield-headquartered Cake Box and his wife will enjoy a £10.5 million payday after reducing their stake in the bakery chain. Sukh Chamdal, above, opened the first branch in Bow in 2008 and today the group has 117 sites. He and his wife Santosh have sold three million shares in Cake Box “in response to investor demand and a desire for financial diversification”. A move to sell down part of the holding was set out when the group floated in 2018. Following the sale, the pair will have a 24.47% stake in the retailer, valued at around £36 million based on today’s share price.

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