Matrix Private Equity Partners funded the buy-out of the Leeds-based company. Partner Ashley Broomberg, who led the deal for the firm, describes CB as a ‘long established, profitable business which is a clear leader in its market’.

Broomberg adds, ‘The fragmented nature of its market means that there is a significant opportunity to expand the business through a rollout of further outlets across the UK.’

Steve Wood, MD of CB Imports, says the company has traded strongly during the recession by offering customers value for money.

With sales of £20 million, CB Imports also operates a division of wholesale cash and carry outlets trading as Country Baskets with warehouses in the North of England and Scotland.