PAI buys MyFlower from LFPI and Montefiore

The GP will deploy equity from its latest vehicle, PAI Mid-Market Fund, which was announced at the end of December.

The vehicle held a first close in October 2020 on €500m and is targeting €700m. The fund has made two other acquisitions previously, including medical company Amplitude Surgical, and food retailer Angulas Aguinaga. It typically targets companies with enterprise values in the range of €100-300m. 

During the five-year ownership of LFPI and Montefiore, the company went from being a French flower delivery company into a pan-European digital gift platform, generating 80% of its sales volume online.

Through the latest transaction, the GP will support the existing management team in its strategy, namely to introduce new products,  invest further in its digitalisation, improve customer experience and expand in Europe.

The acquisition is subject to regulatory approval and is due to complete in Q1 this year.

Company
MyFlower is the holding company for online flower and gift platform Interflora, which operates in France, Denmark, Iberia and Italy.

It also owns gift brands such as BeBloom, a direct-to-consumer  flower and gift website in France; Cadeaux.com, a retailer of personalised gifts in France; and Chocolats-louis.com, an online retailer of chocolate and other gourmet products. 

People
PAI Partners – Stefano Drago (partner). 

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