Jersey Royal potatoes

The Jersey Royal Company is set to be acquired by Produce Investments

The Jersey Royal Company is set to be acquired by Produce Investments, owner of potato supplier Greenvale.

Following speculation about a possible deal earlier today, Produce Investments has issued a statement confirming it is in talks with the Jersey Royal Company.

The company had entered into “heads of terms” with the Jersey Royal Company, it said, “and has agreed a period of exclusivity in relation to a potential acquisition of the Jersey Royal Company. The heads of terms are non-binding and subject to due diligence, which is progressing”.

Produce Investments did not comment on financial details, but a report on the Daily Mail’s thisismoney.co.uk website put the value of the bid at £12m. The Jersey Royal Company was not immediately available for comment.

In October 2012, Produce Investments acquired Cornish potato grower Rowe, boosting its position in UK-grown early potatoes.