Greenyard Flowers UK sold to Yellow Holdings
Oaklins supports Greenyard in its divestment of Greenyard Flowers UK to Yellow Holdings
Oaklins supports Greenyard in its divestment of Greenyard Flowers UK, a world leading grower, packer and distributor of daffodil flowers and bulbs, to Yellow Holdings Ltd., led by Alex Newey (Director of the Pebble Group and long-time partner of the business) and Gilles Deprez (Managing Director of Greenyard Flowers UK). The transaction ensures the further development and continuation of Greenyard Flowers UK as the world’s leading daffodil grower.
World leading grower and packer of daffodil flowers and bulbs
With more than 40 years of experience, Greenyard Flowers UK is the world’s largest supplier of daffodil flowers. The company grows circa 2,700 acres in West Cornwall. Its strong market position is amongst others the result of a powerful fully vertically integrated company model, that ranges from the selection of the best genetics to supplying packed products to retailers. Beside from its core product daffodils, of which it developed more than 2,000 varieties, the company also grows summer flowers such as peonies, agapanthus, nerines, brodiaea and dahlias. Greenyard Flowers UK is renowned for its portfolio of flowers, with best-in-class quality, amongst others proven by the award-winning National Dahlia Collection. From Varfell farm in Cornwall, UK, the company supplies leading UK retailers as well as retailers in 7 other countries, with whom it has privileged longstanding ties.
We chose Oaklins for its reputation in the horticulture industry. The seamless collaboration between the Oaklins teams in Belgium, the Netherlands and the UK were instrumental in achieving the desired result.Yannick Peeters, Strategy director of Greenyard
Reason for sale
Greenyard Flowers UK was put up for sale by Greenyard earlier this year after having been subject to an internal strategic review and having been identified as a non-core activity for Greenyard in view of its Transformation Plan. Marc Zwaaneveld, co-CEO of Greenyard comments on the transaction: “The decision to divest Greenyard Flowers UK fits within Greenyard’s Transformation Plan and updated strategy. We are glad to have reached an agreement reflecting the quality of the assets of Greenyard Flowers UK and are confident the experience, business case and vision of Yellow Holdings Ltd. ensures continuity and growth of the company.”
Strategy built on market knowledge
Thomas Roelens, Co-Head of M&A at Oaklins’ team in Belgium: “Greenyard Flowers UK operates in a niche segment where the buyer landscape was relatively narrow. Our sector expertise and knowledge of the horticulture market, enabled us to quickly identify and line up a pinpointed selection of potential buyers with a strong strategic rationale. This resulted in a highly attractive transaction for Greenyard.”
Frank de Hek, Head of Oaklins’ global horticulture team, complements: “Leveraging on our international contacts with leading players in the growing segment, we were able to convert critical intelligence into a tailored approach, anticipating the main focus areas of interested parties.”
Industry related deals
Our sector specialists have been involved in a large number of mergers, acquisitions and divestures in the horticulture sector. Other transactions, among many others, include:
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