The owner of Belgian fruit and vegetable group Univeg reportedly plans to take the business public by combining it with listed local peer Greenyard Foods.
According to Belgian newspaper De Standaard, Univeg majority-owner Hein Deprez intends to complete the transaction in the back half of this year. In addition to his controlling stake in Univeg, Deprez also holds around 46% of frozen and canned food maker Greenyard Foods.
Both companies declined to comment on the report when approached by just-food.
Univeg is a global fresh produce supplier, with 32 distribution centres in Europe and offices in the Americas, Africa, the Middle East and India. It generated sales of EUR3.1bn in 2013.
Greenyard Foods supplies frozen and canned produce under private labels and brands including Noliko. It also manufactures products from cooking sauces to pestos and tapenades.
The company was named Greenyard Foods in 2013 after the then PinguinLutosa said its Lutosa potato products to McCain Foods.
In the year to the end of March, Greenyard generated profit of EUR61.8m on sales of EUR623.2m.