Horticultural firm flowers with Sun acquisition
AN affiliate of private equity house Sun European Partners has acquired Finlays Horticulture, a purveyor of tea, flowers and fresh produce.
Finlays, which has a tea decaffeination site in Hull and a beverage packing site in Pontefract, was founded in the 1750s.
It is a wholly owned subsidiary of the Swire Group with interests in Kenya, South Africa and Sri Lanka.
The deal, for an undisclosed sum, means that Sun is acquiring Finlays’ investments and holding companies, their UK flower and fresh produce businesses, as well as horticulture interests in Kenya, Tanzania and South Africa, as well as Omniflora.
Finlays will retain its flower farm business in Kericho, Finlay Flowers, located within its tea estates in Kenya.
Finlays Horticulture grows, processes and distributes cut flowers and fresh vegetables supplying most of the UK retailers, including Tesco, Marks and Spencer, Sainsbury’s and Waitrose.
Paul Daccus, managing director at Sun European Partners, said; “Finlays Horticulture is a thriving company. It is uniquely placed as both a grower and distributor of flowers and vegetables from its farms and other growers around the world.
“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 Wakefield’s Bonmarché, a value retailer focused on selling womenswear.
