Chevrillon & Associés and HLD acquire Interflora to create a European leader

July 19, 2012

Acquisitions and disposals

HLD

Chevrillon & Associés and HLD agreed with 21 Centrale Partners in July 2011 to acquire the Interflora group, the French and Spanish leader in distance selling of flowers. In 2010, Interflora had a turnover of €153 million and 250 employees.

Each year, Interflora, through its network of 5,000 florists, delivers more than 1.2 million bouquets throughout Europe. Chevrillon and HLD intend to give Eric Hazak, the group's CEO and shareholder, the means to pursue his strategy of organic and external growth..

Under the impetus of Eric Hazak, the Group's CEO, Interflora has established itself in recent years, with the help of 21 Centrale, as a major player in France in the transmission of flowers on the Internet, with a market share of 40%, while maintaining its positions on the network of affiliated florists. The company has also begun the process of integrating its subsidiaries and minority holdings by acquiring Interflora in Spain in 2008, which has a market share of over 50%. Interflora also owns Renaud Distribution, the French leader in supplies and decorative products for florists. The ambition shared with Chevrillon and HLD is to further strengthen the position of the Internet channel in France, in particular through the development of applications for smartphones and tablets, and to continue the geographic consolidation to make Interflora the European leader in floral delivery..

“I am very happy to have found two French groups as shareholders, long-term investors, which will allow me to achieve the European ambition that drives the Interflora teams.”

Eric Hazak.

“We are delighted to accompany Eric Hazak and his team in this new phase of the company's development. Interflora is a strong consumer brand that enjoys the loyalty of its customers; the Group's international potential and the strength of Renaud Distribution are all assets that make us happy to have made this acquisition.”

Cyrille Chevrillon and Jean-Bernard Lafonta.