Faux flower company ready to bloom with £2.6m investment
A faux flower company in Shropshire which supplies John Lewis, Dunelm and TK Maxx is ready to bloom after securing a £2.6m investment.
Frontier Development Capital (FDC) has provided the growth capital to support Peony Flowers England (Peony).
Led by owners Keith and Margaret Ashbourne, with daughter Julie Bates spearheading their flagship Peony brand, the firm designs and manufactures premium faux-flowers at a distribution complex on the Ruckley Estate, near Shifnal, operating alongside its retail store, designer services and coffee shop.
Peony is a key supplier to blue chip retailers in the UK and export markets as well as TV shopping channels QVC UK and US, and TVSN Australia and New Zealand.
The company holds the world-wide sole rights for faux-flowers under the Royal Horticultural Society licence, which recognises the botanical correctness of the flowers produced.
The multimillion-pound debt funding refinances existing facilities and provides working capital to support a transformational business plan which includes upgrading the existing distribution complex into a state of the art logistics and fulfilment centre.
Bates said: “This marks a new and exciting chapter for Peony, building on our solid foundations and enabling us to pursue emerging opportunities. By upgrading our existing facility, we will continue to transform and future proof our business”.
“FDCs investment has been instrumental in accelerating our growth plans, which includes a new full ecommerce offering. We look forward to working with FDC, expanding Peony’s services to new and existing customers.”
Carl Perry, investment director, Frontier Development Capital, added: “Peony is a well-established family run business offering a high-quality product through a sophisticated brand. FDC was impressed by the capable management team and stunning Peony design centre located on Ruckley Estate. As such we’re delighted to back the business with working capital to support future growth plans and look forward to working with them.”
Legal due diligence was provided to FDC by DLA Piper, with commercial property consultancy provided by Sanderson Weatherall.
Peony received advice via financial consultant SWBC, business consultant ACDS, and legal due diligence from George Green Solicitors.
