The founder of organic veg box supplier Abel & Cole is reportedly looking for a buyer for the business.

A deal could value Keith Abel's home delivery business, which has been successful in the south east of England, at £50m. Abel would make millions from the transaction.

Two private-equity firms, European Capital and Phoenix Equity Partners, are interested in buying the business. They have opened talks with PriceWaterhouse Coopers, the firm advising Abel on the deal, but the decision to restrict negotiations to the two firms or include other interested parties is yet to be made.