Meat wholesaler DB Foods has revealed its new plans for growth, as investment company Paramount Retail Group is set to acquire the business.
DB Foods will see a strategic investment of £12 million go towards its expansion, as well as enhanced services and a stronger UK meat supply chain.
As part of the acquisition, the company has predicted a £30 million revenue growth forecast and a “powerful boost” to independent butchers and food retailers across the country.
DB Foods provides meals for local butchers, as well as supermarkets, Wagamama and British Airways flights. The company is said to directly support 1,000 butchers per week, while providing 240 jobs across its production facilities and headquarters in Poole, UK.
The £12 million investment facility from Paramount Retail Group will be channelled directly into expanding DB Foods Group’s production capacity, aiming to advance its technology and infrastructure while supporting the delivery of smarter, more agile services to customers. DB Foods said it also represented a “major step forward in strengthening supply chain resilience” across the UK meat sector, looking to create long-term benefits for producers, retailers and consumers.
Paul Taylor, chair of Paramount Retail Group said: “Butchers are at the heart of our high streets – they are often family businesses that provide jobs, expertise and a community connection. This acquisition is an investment in the future of food retail in the UK.’’
Graeme Clapp, commercial director of DB Foods Group, explained: “We have carefully and methodically laid the foundations to make a significant impact in the wider retail sector and we’re looking for a partner with the expertise and ambition to help us fulfil the potential of our work.
“This summer, we were excited when the Paramount Retail Group not only took an interest in our company, but immediately understood what we wanted to achieve. When they proposed an investment and invitation for DB Foods to join their portfolio of retail businesses, we seized the opportunity.”
