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PKF has advised Bloom & Wild on its first acquisition, a high-profile deal which 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.
PKF were an invaluable support throughout the entire process.
Sam Phillips said: “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.
“It also demonstrates the strength of the PKF International network in action, as our member firm in the Netherlands was also instrumental in getting the deal over the line. Further work was done by our colleagues at PKF Mueller in Chicago.
“We look forward to Bloom & Wild continuing to grow its share of the European flower delivery market and wish the combined team every success.”
Sophia Meadows, finance director at Bloom & Wild, said: “PKF were an invaluable support throughout the entire process. They were flexible with ever moving timelines, totally understood our business and what mattered to us and we relied on their technical expertise heavily to guide us through the process.”
The deal establishes Bloom & Wild as the largest online operator in Europe’s flower and house plant market, with the combined business expected to make more than 8 million deliveries this year.
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.”
The PKF International network is made up of 220 independent accountancy firms in 150 countries.
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