As a result of the deal, Interflora will welcome a new chairman in the form of retail industry veteran Bernard Norman. The former Littlewoods chief executive and deputy chairman of Thomas Cook has already worked alongside 3i at fashion designer Ben Sherman and holiday park operator Canvas Holidays and admits to being hugely excited by this latest role.
‘I am delighted to be joining Interflora,’ Norman enthuses. ‘The brand is extremely strong and I look forward to working with management and members to ensure that it realises its full potential.’
Reflecting on an apparently ‘complicated process’, 3i director Richard Bishop declared, ‘I am delighted that, following such a strong vote to bring 3i on board as the partner for Interflora, we have completed our investment. Going forward, this will be a powerful combination of an ambitious management team, an experienced new chairman in Bernard Norman and 3i’s experience in backing top brands.’
Advising on the deal were Birmingham-based solicitors Wragge & Co and Deloitte Corporate Finance.
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