Total Produce has told Eurofruit it is not prepared to comment on a report in business newspaper Globes that implied it had formally expressed an interest in bidding for some or all of Israeli fresh produce exporter Agrexco.
According to Globes, a total of ten companies have purchased tender forms for Agrexco, including Total Produce and US equity fund Paine & Partners, which specialises in leveraged buyouts offering potential high returns.
Agrexco has struggled to manage its debt over the past year, posting a loss of €33m in 2010 and running up total debts of €106m.
Last month, following the departure of CEO David Bondi and the appointment of trustee Shlomo Nass,it emerged that the company was seeking a buyer.
The company obtained a stay of proceedings in the Tel Aviv High Court, the deadline for which expires on Tuesday 26 July.
Monday 25 July is therefore the final day on which bids to buy the firm can be received.
According to Globes, other bidders for Agrexco include a consortium headed by DS Apex Holdings Ltd and one being organised by Abraham Bigger.
In an exclusive interview with Eurofruit, published in the magazine's August issue, Nass said: 'Agrexco represents a great opportunity for an investor to step in and take on a famous, strong name that is already established with connections across the world.'
