Greenyard has announced that it has successfully divested Greenyard Flowers UK to Yellow Holdings Ltd, a group led by Alex Newey, director of the Pebble Group and a long-time partner of the business, and Gilles Deprez, Managing Director of the company.
According to Greenyard, the transaction – details of which have not been disclosed – ensures the further development of the company into a sustainable flowers business in the UK.
Greenyard Flowers UK was put up for sale by the company earlier this year, having been subject to an internal strategic review and having been identified as a non-core activity for Greenyard in view of its transformation plan.
The flower specialist, formerly known as Winchester Growers, is described as a world-leading grower, packer and distributor of daffodil flowers and bulbs.
Greenyard Flowers UK grows on some 2,700 acres of land located in the Varfell, near Penzance, and harvests and sources more than 500m stems annually.
As managing director, Gilles Deprez will remain responsible for daily operations and will continue to develop the strategic vision of the company.
“The decision to divest Greenyard Flowers UK fits within Greenyard’s transformation plan and updated strategy," explained
Marc Zwaaneveld, co-CEO of Greenyard. "We are glad to have reached an agreement reflecting the quality of the assets of Greenyard Flowers UK and are confident the experience, business case and vision of Yellow Holdings Ltd ensures continuity and growth of the company.”
Alex Newey, director of the Pebble Group, commented: “This is a great opportunity for us to bring together the flowers from Greenyard Flowers UK with the plants business we operate in our organisation. It is a further demonstration of our commitment for continual investment in agriculture and horticulture both in production and provision of managed services.”
Gilles Deprez, managing director of Greenyard Flowers UK, added: “I am very pleased that we continue Greenyard Flowers UK’s 40 years of activity under the responsibility of Yellow Holdings Ltd. Together with our partners and the existing management we will offer new opportunities for our staff, our customers, the local community and economy and other stakeholders in the business.