DBC Foodservice is actively seeking to buy a competitor after missing out on purchasing rival 3G Foodservice.

DBC had previously planned to grow organically in its bid to become a foodservice provider to rival Brakes and 3663 First For Foodservice but announced a change of tactics in a bid to accelerate its growth.

It had been in talks to buy 3G Foodservice but could not agree on a price before it went into administration earlier this month. Since then, it has started scouring the market for opportunities to snap up other wholesalers.

"We are officially on the acquisition trail," DBC chairman Tarsem Dhaliwal said. "We are not going to do anything daft and pay too much money for something but there are a lot of regional players out there whose owners may want an exit and could fit well into our business."

He refused to speculate as to how much money DBC might have at its disposal, saying there was "no set amount of money put aside".

DBC is owned by three of the bosses of Iceland Foods, CEO Malcolm Walker, MD Andrew Pritchard and FD Dhaliwal who have a combined wealth of £463m, accord-ing to The Sunday Times Rich List.