Parfetts has announced that, from January, it will rename itself Go Local Wholesale as the employee-owned wholesaler looks to bring the business closer to its retail customers and push towards £1bn in turnover.

The transition marks a new chapter for the business, making it more aligned with what it represents today and the customers it serves.

The change brings the wholesaler under the same name as its Go Local symbol estate, which includes Go Local Extra, Go Local, The Local, Shop & Go and Local4U. The business said the new identity better reflected its growth from a regional cash-and-carry operator to a national wholesaler and symbol operator.

The move comes as the wholesaler targets £1bn turnover within two years and sets its sights on growing its symbol estate from more than 2,000 stores to 3,000 in the same period with a further 500 symbol stores in its pipeline.

As the UK’s only employee-owned food and drink wholesaler, Parfetts recorded turnover of £807m in its latest financial year, up 10.6% year-on-year. Following the strong performance, the employee-owned business will share a 10% bonus with all staff.

Joint managing director Guy Swindell said: “We are proud of our Go Local retailers and they are at the heart of everything we do, so it is right that the wholesale business carries the same name and is more closely aligned with the customers we serve.

“We have grown strongly in recent years, but this is just the start. Our ambition to become a £1bn business will be built on the success of our retailers. We are investing in better value, competitive pricing, availability, delivery, and more in-store support, while listening closely to retailers about what they need from us.

“Go Local Wholesale better reflects who we are today and where we are going. We want to grow nationally, but we will do that by staying close to our customers, strengthening our offer and making it as easy as possible for independent retailers to do business with us.”

The name change is intended to underline that closer relationship with retailers, with the Go Local name already established across the wholesaler’s symbol estate.

The name change also puts greater emphasis on Parfetts’ employee-owned structure. Every employee holds a share in the business, with profits shared with staff through its annual bonus scheme. The company said employee ownership allowed it to reinvest in its people, customers and long-term growth rather than paying dividends to external shareholders.

“Being an employee-owned business is one of the things that makes Go Local Wholesale special,” said Noel Robinson, joint managing director. “We are proud of our history, but we are no longer family-owned. We don’t have any shareholders in the stock market who want to take dividends out of the business. We can invest in our colleagues and customers in a way no other wholesaler can do, and this is our gold dust. Our colleagues are invested and care greatly about this business, and this is reflected in the phenomenal growth we have delivered. We have many exciting projects across new technologies, digital innovations and operational improvements in 2027, and I’m sure this will deliver real value for our customers and colleagues.”

The Go Local Wholesale name will officially launch in January 2027.