The Australian media have reported the country's largest privately-owned fruit and vegetable company may be set to change hands, either through a share market listing or an outright sale.

Newspaper The Australian reported a roadshow was launched this week for a potential initial public offering (IPO) of Costa Group shares at a value of around AUD$400 million (US$323.5 million).

The story highlighted the group was 50% owned by its founders the Costa family, with the remainder held by U.S. private equity group Paine & Partners who bought its stake in 2011.

The newspaper said Costa Group appointed UBS and Goldman Sachs to investigate potential options such as a sale or an IPO with a value of up to AUD$1 billion (US$808,000).

Costa Group declined to comment on the issue.

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