Patisserie Holdings Limited, which operates the Patisserie Valerie chain of cafés has announced its intention to float on the London Stock Exchange.

The move is expected to value the chain at approximately £170 million and is reported to be scheduled for the end of May.

The group, which is forecast to be worth circa £6 billion and is forecast to grow at over 8% per annum, operates 138 stores and the Flour Power City Bakery.

The group's executive management team, led by Luke Johnson, Paul May and Chris Marsh, has a proven track record of successfully opening an average of 15 new stores per annum over the three financial years ended 30th September 2013, delivering an average 23 month payback period, and of acquiring and integrating new brands, with Philpotts being the most recent.