The rebel florist movement to derail a potential buyout of Interflora has failed, with members backing the private equity bid.
Florist members of the 80-year-old organisation resoundingly backed the 3i deal during a special meeting yesterday.
The decision has left opponents of the plan, who claimed the deal allowed Interflora to be picked up at a knockdown price, stunned.
More than 87 per cent of the votes supported the £23 million bid, which needed three quarters of the members to back it.
Steve Richards, chief executive of Interflora, said: “This is a very good day for members, huge numbers of them voted for this.”
The deal will see florists receive between £5,000 and £12,000 when the deal goes through.
David Adair, who headed the rebels, said: “Interflora has been given away at a bargain price.”
Under the deal, 3i will have half the compay, while Interflora’s directors will get a 15 per cent stake for a payment of just £200,000. The remaining 35 per cent interest will be kept by the members.
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