DBC Foodservice has been bought by three directors of the Iceland retail group.
WPD Limited (WPD), a company owned by Malcolm Walker, Andrew Pritchard and Tarsem Dhaliwal, has acquired WF Group Holdings Limited, which owns DBC.
Malcolm Walker is the founder and chief executive of Iceland Foods, Andrew Pritchard is managing director and Tarsem Dhaliwal finance director.
Dhaliwal has also been chairman of DBC Foodservice since August 2007. Commenting on the acquisition, he said: “DBC is an efficiently run, low cost, cash generative business with a solid management team, whose focus on customer service is second to none. Our acquisition is designed to bring certainty and stability to the company and its staff, suppliers and customers following the well-publicised problems affecting its major Icelandic shareholders.
“This is not a takeover of DBC by Iceland, and Malcolm, Andy and I will remain firmly focused on our day jobs there. However, we can add value to DBC by providing advice, direction and support to its management team. We shall also be looking for opportunities to exploit our industry knowledge, experience and buying power to extend DBC’s capabilities and improve its performance for the benefit of all stakeholders in the company.”