The chairman of the supermarket chain Iceland will be nominated for a Labour peerage, sources within the party have confirmed.
They said Richard Walker was "a committed champion of families dealing with the cost of living" and "will be a strong voice in Parliament".
The 45-year-old left the Conservative Party in 2023, and was later seen at the launch of Labour's manifesto for the 2024 general election.
He assumed control of the frozen food retailer from his father, who founded the chain, in 2023.