3i consummates Interflora deal

Famed florist Interflora is set to celebrate Valentine’s Day in style, having secured a £20 million injection of expansion capital from private equity giant 3i.

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.

For further information visit:

* www.3i.com
* www.interflora.co.uk

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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