Kitwave Wholesale Group, which owns nine businesses, achieved record trading figures in the year to the end of April.

Pre-tax profit (EBITA) rose from £7 million to £8.7 million on turnover up from £227 million to £260 million.

Kitwave, with headquarters in North Shields, employs over 650 people across the UK, with more than 250 in the north-east.

During the year it acquired Sheffield-based Hulleys Frozen Foods and David Miller Frozen Foods, of York.

Finance director David Brind (left) said: “The acquisitions have provided Kitwave with a completely new product offering to the independent foodservice sector, as well as strengthened our growing capability in frozen foods.”

Early this year (Cash & Carry Management: March) Kitwave completed a refinancing deal with US investors Pricoa Capital Group and Allstate Investments, which acquired a minority stake in the group. More recently, it bought West London wholesaler Phoenix Frozen Foods.

Brind commented: “We continue to deliver growth in revenue, margin and profitability while ensuring strong cash generation is maintained. This trend is expected to continue in the foreseeable future.”

Kitwave Group 0191-259 2277