BREAKING NEWS: Sunshine Bouquet agrees to purchase Esmeralda Farms.
When you read news like this you might start to wonder where the flower business is headed.
While most of us are concentrating on how to stay afloat and survive these challenging times, behind the scenes there is a lot going on.
Sunshine Bouquet buying Esmeralda is a big deal and is just the most recent and most public purchase that we have learned about. However, while I do not have any direct evidence, I am certain that there are deals being made at many levels in the floral industry.
The bouquet business seems to be booming at the same time the wholesale / retail segment of the industry remains challenged. This imbalance has made the bouquet companies more aggressive to secure production and those dependent on Wholesale /Retail more vulnerable for take over,
his trend has made five companies stand out.
1.The Queens Group
3.The Elite Flower Company
5.Jardines De Los Andres
All of these companies have a wholesale division but clearly bouquet sales to the mass markets is what’s driving their sales and growth.
I do not sense the same aggression from the wholesale segment.
Bill Doran, Kennicott, Mayesh and The Delaware Valley Floral Group had been very active over the last several years expanding and consolidating their markets. While I can imagine that there is still a desire to take on more, I do not hear of any big deals going down.
Thanks for reading and stay safe. It ain’t over yet.