Supply chain management specialist Enterprise Foods is targeting £100m of annual revenues after completing a £30m private equity-backed MBO.

Chairman Tony Moloney, who led the deal backed by Hattington Capital, said it was aiming to take current sales of about £60m to £100m over the next three to five years.

Enterprise manages the supply of locally sourced fresh products, such as bakery goods, dairy and deli items, to national retailers including The Co-op and Compass Group.

“Consumers increasingly want local products to support the local economy, and want goods that are fresh. And given scandals like Horsegate, don’t want lengthy supply chains,” Moloney said.

Enterprise Foods was founded in 2005. Moloney completed a 2007 MBO alongside South Yorkshire Investment Fund and GE Commercial Finance, which valued the East Kilbride-based business at £4.5m.

Investment bank Altium advised on the latest deal, while Yorkshire Bank provided £14m of senior debt to aid the buyout as well as £3.5m to support working capital and ongoing growth.