Cash & carry giant Bestway is back on the acquisition trail.

The wholesaler said it planned to grow its business over the coming year by “acquiring other wholesalers”.

Bestway has not made any acquisitions since snapping up Bellevue Cash & Carry and Martex Cash & Carry in 2010, but there has been frenzied speculation that the company was on the look-out for another purchase.

Since the 2010 deals, it has invested heavily in its wholesale business, opening two new depots, a new chilled distribution site, and a transactional website. It has also committed to investing £10m in Bestpets over the next three years.

Last week, it reported a 45.5% increase in full-year group pre-tax profits to £173.2m, on sales up 6.8% to £2.5bn in the year to 30 June 2012.

Bestway MD Younus Sheikh said: “As a business with our roots in retailing we understand the needs of independents and will continue to provide maximum support by delivering the best prices, value and service.” Sheikh also revealed that Bestway planned to launch a dedicated website for Batley’s in the next few weeks.