Baker turned entrepreneur Martin Lightbody has sold more than £2 million of shares in Finsbury Food Group.
Mr Lightbody, who stood down as chairman of the business last year, offloaded two million shares to take his holding to 3.7 million.
Shares in Finsbury, which employs more than 1,000 people in Scotland, have been trading at more than 100p in recent days, close to highs last seen in 2007.
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