Perceva revives Monceau Fleurs with recap

The recapitalisation saw Monceau Fleurs receive €26m, which took its consolidated equity capital up to around €20m after current year losses, bringing its net debt level to €13m – a decrease of two-thirds.

The strengthened balance sheet will increase the group's flexibility so that it can streamline and develop its network of franchises in order to improve its presence in the flower and plant distribution market.

Following the deal, Monceau Fleurs will focus on strengthening its brand, improving the organisation of its franchisee network, improve its sourcing activities and aim to supply shops with a good service rate.

Company
Established in 1965 and listed on Alternext (ALMFL), Monceau Fleurs is a French wholesaler of flowers and plants that operates through three franchise networks – Monceau, Happy and Rapid'Flore.

The company sells flowers and plants through more than 450 outlets and is present in eight countries including Japan, Italy, Germany and the Netherlands.

People
Laurent Pfeiffer, previously financial director of Monceau Fleurs, is now CEO. Network director Bruno Blaser and development director Patrick Deronne have both joined the management board of Monceau Fleurs.

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• Topics
• Turnaround/Special Situations
• France
• Consumer
• Perceva Capital