A takeover deal of Banken Champignons by the Dutch Co-operative Mushroom Growers Society (CNC) has fallen through.

Talks between the two Netherlands based businesses collapsed after CNC was unable to raise the necessary funds to go ahead with the deal. In a statement, Banken said it had now decided to "go it alone".

The statement added: "With a production increase of 20 per cent in 2004, Banken expect to further enhance their production in 2005."

The company is a family owned business who supply more than 650 tonnes of fresh mushrooms a week. CNC was hoping the merger would increase their share of the European mushroom market.

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