Interflora sold for £65.7m

Interflora has been sold to US florist FTD for£65.7 million.

Private equity group 3i bought a majority stake in the UK florist in January last year. The remainder is owned by the management and florists.

FTD chief executive Michael Soenen said: 'Interflora's business model is very similar to ours. As the company continues its development we believe we can leverage our marketing and technology experience to help drive growth, decrease operating costs and accelerate the development of new products for member florists. Further, we believe this will serve as our base for expanding into other European countries.'

Interflora will be run as a separate business, with the existing management team remaining in place and Steve Richards continuing as chief executive.

FTD and Interflora already co-own the Interflora trademark globally.

Interflora has been sold to US florist FTD for£65.7 million.

Private equity group 3i bought a majority stake in the UK florist in January last year. The remainder is owned by the management and florists.

FTD chief executive Michael Soenen said: 'Interflora's business model is very similar to ours. As the company continues its development we believe we can leverage our marketing and technology experience to help drive growth, decrease operating costs and accelerate the development of new products for member florists. Further, we believe this will serve as our base for expanding into other European countries.'

Interflora will be run as a separate business, with the existing management team remaining in place and Steve Richards continuing as chief executive.

FTD and Interflora already co-own the Interflora trademark globally.