Cooper Parry advises on sale of flower supplier to supermarket giant Morrisons
A business advisory firm has helped to sell one of the UK’s leading wholesale flower companies to supermarket giant Morrisons.
Cooper Parry advised Flower World 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 Flower World said the deal represented an exciting future for the business.
He said: “The integration provides a very exciting future for Flower World. 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, Flower World is one of the leading independent flower importers and distributors in the UK. It 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 Flower World who we have worked with intimately 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, partner of the corporate team at Browne Jacobson.
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: “Flower World 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.”