The former boss of UK discounter Poundland, Jim McCarthy, has become the chairman of Manchester home consumer goods business Ultimate Products.
Founded as a sourcing company for retailers in 1997, Ultimate Products is now a brands house with 185 employees in the UK and China.
It sells brands such as Beldray, Salter and Constellation to over 300 retailers in 38 countries.
The publication quoted McCarthy as saying: "I have known about Ultimate Products for several years, during which time it was a supplier to Poundland.
"Ultimate Products has a terrific track record of growth which has been achieved by building an impressive range of brands, delivering amazing value for money to customers, whenever, wherever and however they want to shop."
The company had a revenue of £33 million for the three months leading up to 31 October, an increase of 49% on 2015.
Its profit year-on-year increase (before tax) was 55%, reaching £3.4m.
Steinhoff International Holdings NV agreed to buy Poundland Group Plc for £597 million in July.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. To subscribe to ESM: The European Supermarket Magazine, click here.
