The specialist bakery business, Finsbury Food Group has acquired Lees Foods in a cash deal reported to be worth £5.7 million.

Renowned for its snowballs, teacakes and meringues Lees Foods has been in business since 1931 and has a workforce of around 200, based in Lanarkshire.

Finsbury Food Group has said it believes the deal will consolidate its position in the sweets sector and means it now has a growing manufacturing presence in Scotland.

CEO at Finsbury, John Duffy is said to believe the sale will mean it can explore further commercial opportunism including out-of-home eating.