More than 120 fresh produce businesses could be set for takeovers this year, according to business analyst Plimsoll Publishing.

Several factors including difficult growth, low interest rates and ageing directors - more than a third of fresh produce firms' directors will turn 60 by the end of 2013 - have left the companies ripe for acquisition.

David Pattison, senior analyst at Plimsoll said: “There are around 121 businesses in the fresh produce market that are showing classic acquisition criteria.

'They are all declining in financial strength, many have an ageing board and are still privately owned. These companies will need the support of their current owners or investment to ensure they have a future and many have acquisition potential. Given the circumstances, it’s quite possible that perhaps some of the directors will be looking to retire or even consider a sale.”

The report also found that 56 per cent of fresh produce organisations did not see an increase in sales in 2012, and that 179 of the 962 fresh produce businesses analysed have seen debts increase over the last 12 months.