Lagkagehuset (Ole & Steen in the UK) is a leading premium bakery-led food-service chain with over 75 stores in Denmark, and a growing presence in the UK. The company operates a premium concept focusing on high-quality artisanal breads, cakes and pastries as well as other food, teas and coffee.

Lagkagehuset has professionalised the fresh bakery industry responding to the increasing public focus on healthy quality food products, a concept that resonates internationally. The Lagkagehuset chain has a high degree of flexibility of concept, ranging from large traditional bakeries to smaller urban food-to-go outlets. Lagkagehuset’s business model enables high quality at scale, and its strong brand and modern retail concept has been highly successful in the Danish market. The stores in the UK, trading under the “Ole & Steen” brand, are the first phase of an international roll out and prove that the business model is highly scalable.

Nordic Capital Fund VIII acquired Lagkagehuset in 2017. The ambition is to support Lagekagehuset in its European rollout. After several years of significant growth in the Danish market and a recent launch in London, Lagkagehuset is well positioned for further internationalisation with Nordic Capital as the owner of the company.               


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Key Information

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Revenues 2021*

EUR 145 million

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Nordic Capital Fund VIII, controlling shareholding

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Head office

Copenhagen, Denmark

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Investment date


* Reported