A new survey has identified a number of leading fresh produce companies that are ripe for takeover.

The report, from Plimsoll Publishing, identifies 38 out of the top 1,000 companies in the industry that it describes as “classic acquisition targets”.

All of the companies have been assessed on their overall financial strength and a further eight measures of acquisition attractiveness.

David Pattison, senior analyst with Plimsoll, said: “What we have done here is the donkey work. This analysis cuts out hours and hours of boring research. It just leaves you with the sexy bit of actually making the decision to buy one of those companies.”

A company scored a point for each of the eight criteria it met, which included: having sales growth above the industry average; having a low financial rating; having high earnings but losing money; having a big difference between its current and future value; having a high average directors age; having high directors fees; not having a parent company; and being controlled by a small board of directors.

In total, only one company met all eight attributes, while seven achieved seven of the key indicators. A further 30 ticked six boxes.

Pattison said: “The full analysis is ideal for curious acquirers. They almost certainly will have some targets in mind. This analysis will help them to consider these and other options objectively.”

The full study contains an individual analysis of each of the 1,000 companies based on their latest fours years of financial performance, he added.