Zameer Choudrey, chief executive of the Bestway Group, has been appointed to the House of Lords in former Theresa May's resignation honours list.
The British Pakistani businessman, who has overseen the growth of the parent company of Bestway Wholesale to employ 15,000 people in the UK, described the peerage as an "immense honour".
He added: "I am truly humbled to have been appointed to the House of Lords. I have always viewed the UK to be the land of opportunity and I look forward to contributing to the continued advancement of our great country."
The appointment was made in recognition of Choudrey's contributions to Britain's domestic and foreign trade, his philanthropic work in the UK and abroad as well as his role as chairman of the Conservative Friends of Pakistan.
In previous years he has held the role of deputy chairman of the Pakistan Britain Trade and Investment Forum as well as serving as a member of the Confederation of British Industry's Economic Affairs Committee.
On taking his seat in the House of Lords he said he would look to utilise his experience to build more bilateral trade, create more jobs here in the UK and improve foreign relations between the UK and Pakistan.
He had previously been appointed a CBE in the 2016 New Year's Honours list.
Mrs May also awarded a British Empire Medal to Graham Howarth, head chef of Chequers, the Prime Minister's country estate in Buckinghamshire.