Wednesbury-based KTC Edibles has been named Asian business of the year.
The Black Country company supplies more than 250 million litres of cooking oils and fats to the food industry every year.
It took home the top prize at the annual Midlands Asian Business Awards where a total of 10 companies and entrepreneurs were recognised.
Also among the winners were Broad Street's Pushkar, which was named restaurant of the year, and Oldbury-based engineering group Caparo, awarded international company of the year.
Community champion was Paul Sabapathy CBE, HM Lord Lieutenant for West Midlands Lieutenancy while Mitesh Patel, from city centre-based Levenes Solicitors, was named professional of the year.
Other winners from the West Midlands included Dan Amin, managing director of Coventry wedding cake company Exclusive Cakes 4 U, who was named best young entrepreneur, and Redditch pharmaceutical distributor Lexon UK
The event, held at Warwickshire County Cricket Club in Edbgaston, also unveiled the latest Asian Rich List - Midlands
Also featuring in the top ten were Caparo Group founder Lord Swraj & Angad Paul (£750 million), Tony Deep Wouhra (£85 million), of East End Foods, and property entrepreneur Paul Bassi (£80 million).
The rich list, published by Asian Media & Marketing Group, showed that the combined overall net worth of the 51 millionaires had reach £4.3 billion, an increase of £300 million since 2013.
The list also has three millionaires under 40 and 14 under 50. The youngest entrepreneur in the 2014 countdown is Kavi Jundu, with his West Bromwich-based cardboard box manufacturing company Diamond Box.
At 34 and with a net worth of £12 million, he has tapped into the growing demand for premium packaging both on the high street and online.