Barclays Private Equity France has sold its stake in Société Française de Transmissions Florales (SFTF), the owner of the Interflora brand in France, to rival French buyout specialists 21 Centrale Partners for an undisclosed sum.
The sale by Barclays brings to an end an investment that began in September 2003, when it acquired 64.4% of the business along with the two directors that led the buyout, Félix and Eric Hazak. This holding increased to 72.4% by the end of 2003.
At the time of the initial MBO, SFTF had a network of over 5,200 florists processing 1.8 million orders per annum resulting in turnover in excess of €100m. Now, it has a network of 5,300 florists with an annual turnover of over €130m.
21 Centrale Partners, through its fund 21 Developpement II, aims to expand the business internationally.