time’: Paramount Retail on the hunt for struggling firms

‘Feeding

LAURA MCGUIRE

A BUSINESS group that rescued upmarket chocolatier Montezuma from collapse has said it is looking to continue on its acquisition spree –noting the current tough trading climate is “feeding time” for stronger players in the market.

“In recent years, there have been so many distressed businesses that we have been able to pick the ones that fit in with the profile of the group,” Paul

Taylor, chairman of Paramount Retail told The Sunday Times.

The business, which is owned by brothers Ravi and Sunny Sharma, bought Montezuma for around £1m after it filed for administration a few weeks ago.

Paramount also bought a number of pet accessories businesses and told the outlet it was looking at ramping up its acquisitions before it goes public.

City A.M. has contacted Paramount Retail for a comment.