The parent company of café chain Patisserie Valerie is hoping to raise £33m from its flotation onto the AIM stock exchange in London.

Patisserie Holdings Limited said it would use the proceeds to pay off all of its outstanding debt of £21.9m and shareholder loans of £10.8m.

Existing shareholders in the firm are also set to release £55m of stock for sale in the flotation, on top of the firm's share offer.

"We have built a strong business around a portfolio of appealing brands supported by our own bakeries and logistics," said Paul May, chief executive of Patisserie Holdings Limited, in announcing the firm's intention to float onto AIM.

"Our stores combine high quality, value for money, affordable treats with efficient service in a visually appealing environment.

"We trade in flexible locations that attract consumers for breakfast, a casual lunch, a quiet meeting in the afternoon or a relaxing dinner.

"This flexibility drives all day trading which benefits us even during the traditionally quieter mid-morning and mid-afternoon periods.

"With this favourable positioning across fragmented markets, we believe we are well-placed to continue to deliver strong organic growth, with additional opportunities for potentially attractive acquisitions of other, smaller branded groups."

The firm said it had its eyes on 250 new sites across the UK. Its café chain already operates in 138 stores, up from just eight in 2006.

Its revenue growth and margins have been solid. Revenue hit £60.1m in the year to 30 September, 2013, 21.4% growth on the previous year.

Profit before tax grew by 25.1% over the same period to £12m, a margin of 20%.

As well as Patisserie Valerie, the group owns Druckers - Vienna Patisserie, Philpotts, Baker & Spice, and the Flour Power City Bakery.

Canaccord Genuity is acting as financial adviser, nominated adviser and broker in the flotation.

The firm expects to pay its first shareholder dividend on 30 September, 2015.