A FOOD distribution company that has a centre in Durham has been bought by its management team and yesterday announced plans to expand.

Woodward Foodservice, which supplies food to pubs, restaurants, hotels and schools, was formerly part of the Big Food Group before being bought by a consortium of investors earlier this year.

Now Woodward has been bought by its managers, led by chief executive Ed Hyslop, trading director David Howarth, finance director Simon Moorhead and operations director Chris Flowers.

Woodward, which employs 1,100 people at 14 distribution centres nationwide, has the backing of Lloyds TSB Commercial Finance and investment groups Baugur and Talden.

Mr Hyslop said: "Our new independence gives us greater autonomy and the freedom to make quick decisions, with the backing of Lloyds TSB and the ongoing support from our co-investors, who have retained a sizeable stake in Woodward. This is a sign that they believe the management can significantly grow the company and return value to its shareholders."

Woodward increased its annual turnover from £96m to more than £150m during the past two years, and is expected to reach £180m this year.

Mr Howarth said the company planned to expand the business in the North-East, where it employs 15 staff at its distribution centre in Abbey Road, Framwellgate Moor, Durham.

"We want to expand in the region, which will either mean investing in the existing site or buying into a new one," he said.

"We don't have a huge number of employees there at the moment but we are looking to have a significant number there in the future."