PKF Francis Clark advise Bloom & Wild on international acquisition
PKF has advised Bloom & Wild on its first acquisition, a high-profile deal that quadruples the size of the UK’s leading online flower and gifting platform’s European footprint.
Bloom & Wild has acquired Netherlands-based competitor Bloomon for an undisclosed sum, creating an enlarged business with forecast revenues of over £200 million this year.
Members of the PKF International network of accountancy firms provided a full suite of buyside support services, led by Sam Phillips, Transaction Services Director at PKF Francis Clark, and Ruud van der Linde, Transaction Tax Partner at PKF Wallast.
Bloomon operates in five European countries, including Belgium, Denmark and Germany, and employs a team of 130.
Sam Phillips comments: “Bloom & Wild is a dynamic and entrepreneurial online business that has grown rapidly in recent years. This milestone in the company’s expansion was an exciting and complex deal to work on and we are pleased that PKF were selected to provide a full suite of buyside transaction support to the Bloom & Wild team, covering financial and taxation due diligence, completion mechanism and sale and purchase agreement (SPA) advisory support.”
Aron Gelbard, CEO and co-founder of Bloom & Wild, said: “With the completion of our first acquisition we have created Europe’s leading online flower delivery company. Over the past eight years we’ve grown rapidly, entirely through organic growth, into a profitable business with revenues substantially north of £100 million.
“And now we’re excited to consolidate two leading players in the fragmented, £22 billion European flower and house plant market. Together, we will continue to drive industry change and build on our ambitious sustainability roadmap.”