FRP Advisory secures sale of Flowercard International Limited
Callum Carmichael and Michelle Elliot, partners with FRP Advisory, have sold the business, assets and goodwill of Edinburgh-based internet retailer Flowercard International Limited to Flowers in Cards Limited, a new venture formed to acquire the business.
Flowers in Cards Ltd plans to invest in and further develop the innovative 3D greeting cards business pioneered by Flowercard International.
Founded in 2000 in a florist shop on the Island of Guernsey, Flowercard International expanded into the UK with its e-commerce range of 3D greeting cards with flowers for personal, family and corporate events and occasions, such as weddings, birthdays and celebrations.
The company worked with leading British card designers, artists, florists and stylists to create innovative flower and card packages. Nearly 2 million flower and card presentation packages have been sold since 2000 with forecast turnover to September 2021 close to £5m.
The transaction, which is for an undisclosed sum, sees Flowers in Cards Limited acquire the goodwill, intellectual property and certain assets of Flowercard International including designs, databases, technology and branding. All five full-time staff will transfer to Flowers in Cards which plans to continue working with many of the freelance consultants and designers.
The company will continue to trade from the website www.flowercard.co.uk. The administrative HQ will remain in Edinburgh with packaging and distribution continuing to be undertaken by a third-party specialist. Flowers in Cards Limited was selected as the preferred bidder for the assets of the business following a marketing exercise.
Callum Carmichael, partner with FRP said: “Flowercard International had forged a strong presence in the UK flower and card sector for its creativity and innovation. We are delighted to have sold the business to Flowers in Cards and wish the new owners every success with their development plans.”
Liam Lapping, managing director of Flowers in Cards, added: “We are delighted to have been able to acquire the assets and to have secured ongoing employment for all five staff members. We have ambitious plans to invest in the new venture and to develop a new range of products and services that will continue to set the standard for creativity in our market.”