A business advisory firm has helped to sell one of the UK's
leading wholesale flower companies to food retailer Morrisons.
Cooper Parry, with offices across the Midlands, advised
FlowerWorld Ltd, based at Derby Distribution Centre on its sale to
WM Morrison Supermarkets plc. The deal, for an undisclosed sum, is
part of an ongoing strategy by Morrisons to acquire businesses
operating in its key growth areas.
Morrisons will now be able to boast an unrivalled flower shop
proposition by providing more choice and value for its
customers.
Peter Woodhouse, managing director, of FlowerWorld said the deal
represented an exciting future for the business.
He said: "The integration provides a very exciting future for
FlowerWorld. Morrisons strong commitment to the category coupled
with our product knowledge and innovation means Morrisons customers
can look forward to an even better offering in store."
Established in 1987, FlowerWorld is one of the leading
independent flower importers and distributors in the UK and in the
year to August 2010 it generated sales of £33.7m. Flower
World provides fresh cut flowers, plants, bulbs, seeds, wreaths and
bouquets to florists and retailers.
Ben Rookes, of Cooper Parry Corporate Finance who led the
transaction, said: "We are delighted to have completed this deal
for FlowerWorld who we have worked very closely with for a number
of years.
"It represents a great opportunity for Peter and the team to
become an even bigger operation and expand their business going
forward and we wish them every success for the future."
Legal advice was provided by Nigel Blackwell, head of the
corporate team at Browne Jacobson.
He said: "We are extremely pleased to have helped Peter achieve
the success that he and the business deserve, and are confident
that his considerable expertise in this market will help Morrisons
greatly."
Dalton Philips, Chief Executive of Morrisons, said: "Morrisons
wants to be known as the supermarket that excels at retailing
flowers. We believe that we can do this by owning our own flower
business, being closer to growers and therefore better able to
control quality and value."
Jane Speakman, Managing Director for Horticulture at Morrisons,
said: "FlowerWorld has strong relationships with growers and
farmers and a real expertise in these products. We know that this
business can help build the best flower shop proposition and we
look forward to welcoming the management and staff into the
Morrisons family."
For more information about Cooper Parry, please visit
their website here: www.cooperparry.com