Sun European picks up Finlays Horticulture

The deal saw Sun purchasing Finlay Horticulture's investment, holdings and subsidiary companies. This includes Finlay Flowers UK, Finlays Fresh Produce UK, Finlays Horticulture Kenya, Finlays Horticulture Tanzania, Omniflora, Finlay Flowers BV, FV SeleQt, Dudutech and Finlays Horticulture South Africa. The deal is thought to value the business at around £100m.

Finlays will retain its flower farm business in Kericho, Finlay Flowers, located within its tea estates in Kenya.

Following the transaction, Sun aims to grow the company internationally and invest in production.

Company
Established in 1750, Finlays Horticulture grows, packages and distributes cut flowers and prepared fresh vegetables to UK retailers including Tesco, Marks & Spencer, Sainsbury's and Waitrose. Its produce is grown in Africa and exported to Europe.

People
Paul Daccus is managing director of Sun.

Advisers
Equity - EY (Financial due diligence); Kirkland & Ellis (Legal). 
Vendor - Stamford Partners (Corporate finance). 

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• Buyouts
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• Sun European Partners
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