The findings were compiled by Grant Thornton and rank private businesses on turnover and profitability
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by Hannah Baker
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Chris Dawson opens a new Range store in Paignton(Image: Erin Black/Plymouth Live)
The parent company of Plymouth discount chain The Range has been named the largest private business in Devon in 2025. Norton Group Holdings topped a new list of the county’s 150 biggest businesses and was also the second-most profitable.
The inaugural Devon Ltd 2025 report was compiled by Grant Thornton 海角视频 using the most recent publicly available accounts and ranked companies by turnover and profitability (EBITDA).
Norton Group is a Plymouth-headquartered holding company owned by retail tycoon Chris Dawson and its portfolio includes the Wilko brand as well as Homebase, which it snapped up from administration last year.
According to latest filings at Companies House, Norton Group Holdings recorded a pre-tax profit of £10.5m for the year to February 2, 2025, while its turnover climbed from £1.3bn to £1.47bn over the same period.
In at second place on the list was Exeter-based logistics giant Gregory Trading Holdings, while Plymouth-headquartered luxury boatbuilder Princess Yachts came in third.
Nick Jones, head of south west corporate finance at Grant Thornton 海角视频, said: “It’s fantastic to celebrate the success and contribution of so many privately owned businesses across Devon.
“The roles these companies play as employers, suppliers of goods and services, as well as their broader community involvement is fundamental to supporting the success of the region.”
Princess Yachts was named third-largest private company in Devon in 2025(Image: Local Democracy Reporting Service / Princess Yachts Limited)
The 150 firms generated more than £7.7bn in turnover between them - up 12.2% on a year earlier - and collectively employed nearly 48,000 people in Devon over the period on an average salary of £28,000.
The report is part of a nationwide series by Grant Thornton highlighting organisations that are driving economic growth and innovation across a wide range of industries.
The consumer sector - retail, food and drink, and leisure organisations - had the largest representation with 55 companies present in the top 150 and contributing £3.3bn in turnover. Close behind was manufacturing, with 45 companies generating £2.2bn in turnover.
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Separately, the report also named the 150 most profitable private businesses in Devon, with Exeter's Highcliffe Holdings (trading as Thrifty and Switch car rental) topping the list, followed by Norton Group and Gregory Trading Holdings in third.
James Smart, corporate finance associate director at Grant Thornton 海角视频, said: “The growth in turnover and profitability, alongside significant investment in people, reflects a business community that is adapting and thriving despite challenging market conditions.”