Flower firm sold for £2.95m

Flying Brands has acquired one of the UK’s top flower delivery companies – Flowers Direct Online – for £2.95m in cash and loan notes. The company was in administration and its assets include Flowers Direct’s websites and a database of around 300,000 customers.

Flying Brands says the deal will strengthen its gifts division.

The Flowers Direct business generated £6m of revenue and made a loss of £0.5m for the year to March. Flying Brands also hopes a range of cost-cutting measures can be achieved through the two firms coming together.