FTD creates new global floral/gifting platform with merger
Two leading floral and gifting companies have completed a merger.
FTD LLC is merging with U.S. floral e-commerce company From You Flowers LLC. Michael Chapin, founder and CEO of From You Flowers, who takes over as CEO of the combined companies. According to the companies, FTD florists will see increased support, enhanced services and a nearly doubling of the number of orders flowing into the network.
The agreement will bring together a collection of consumer brands including From You Flowers, Proflowers, and FTD, with integration of technology, marketing and customer relationships at scale.
In addition to Chapin, the combined companies' executive team will include Charlie Rosse, executive VP of finance; Spencer Lucian, COO; Mike Sabia, chief marketing officer; and Zac Powell, who will continue as chief revenue officer and manager of the florist network. Peter Sauerborn will remain a strategic advisor to the combined companies' board of directors, of which Joel Citron, co-CEO of Tenth Avenue Holdings, will be the chairman.
“We are bringing together two businesses with a shared vision to deliver exceptional service to our florist members and consumers," said Michael Chapin, CEO. "The merger will enable From You Flowers' best-in-class e-commerce operation to accelerate the growth of FTD's already impressive floral distribution network. The merger creates scale and efficiencies that will be reinvested in florist member technology and stronger services to help our members grow.”
[Read more: Exclusive Q&A: FTD CTO delves into partner e-commerce platform]
Jefferies LLC acted as exclusive financial advisor and Munger, Tolles & Olson LLP acted as legal advisor to FTD. Zukerman Gore Brandeis & Crossman LLP acted as legal advisor to From You Flowers.
FTD, a portfolio company of Nexus Capital Management, operates one of the largest florist networks in the world, with over 30,000 floral shops in more than 125 countries. FTD partners with local florists to create floral arrangements available for same-day delivery on FTD.com and ProFlowers.com. In addition to delivering flowers, FTD provides technology, marketing, and digital services to their florist network members.
From You Flowers, a subsidiary company of Tenth Avenue Holdings, is an online retailer of flowers, plants, and gift baskets, under the fromyouflowers.com, sendflowers.com, hbloom.com and giftbasketstore.com brands.