Sun European Partners, LLP (“Sun European Partners”) today announces that one of its affiliates has agreed to acquire Finlays Horticulture Investments Ltd and Finlays Horticulture Holdings Ltd and its subsidiary companies (“Finlays Horticulture”) from James Finlay Limited (“Finlays”). The business will be acquired for an undisclosed value.
The transaction includes the acquisition of Finlay Flowers UK, Finlays Fresh Produce UK, Finlays Horticulture Kenya, Finlays Horticulture Tanzania, Omniflora, Finlay Flowers BV, FV SeleQt, Dudutech and Finlays Horticulture South Africa. Finlays will retain its flower farm business in Kericho, Finlay Flowers, located within its tea estates in Kenya.
Finlays Horticulture focuses on the growing, processing, packaging, marketing and distribution of cut flowers and premium prepared fresh vegetables supplying most of the UK retailers, including Tesco, Marks and Spencer, Sainsbury’s and Waitrose. It is the largest vertically integrated, added-value producer and exporter of fresh produce and flowers from Africa to the EU.
Founded in the UK in 1750, Finlays has developed into a well-respected global brand, known for its development of the tea industry in India and more recently, since its expansion into flowers, fresh produce and rubber, it has become one of the world’s largest producers and packers of Fairtrade roses and lilies.
Paul Daccus, Managing Director at Sun European Partners, said; “Finlays Horticulture is a thriving company. It is uniquely placed as both a grower and distributer of flowers and vegetables from its farms and other growers around the world. Furthermore its strong reputation in the market for being a reliable year-round supplier of produce is demonstrated by the large number of long-term relationships with many of the UK’s major supermarkets. Together with the management team, we will look to build on the company’s well-established position in the market and focus on opportunities that will support further international growth, while continuing to invest in production.”
Sun European Partners has significant experience making acquisitions in the UK. Among its affiliated portfolio companies it has a number of leading businesses including; American Golf, the largest golf retailer in the UK; Bonmarché, one of the UK’s largest value retailer focused on selling affordable, quality womenswear in a wide range of sizes to women over 45 years old and; Dreams, the U.K.’s leading bed and mattress specialist.