Rebel Interflora florists are meeting today (Sunday) to rally support for their attempt to defeat an agreed £23.2 million buyout by private equity group 3I.
The Interflora Stakeholders Association (ISA), one of two groups fighting the sale, has written to all 1,893 members of the organisation to attend a meeting in Coventry today.
They have just over two weeks to persuade fellow florists to scupper a deal that will hand control of the 80-year-old flower delivery network to an outsider for the first time in its history.
For the deal to go ahead, the board needs approval from 75 per cent of the members and the vote is scheduled for January 23.
The board said the deal would help safeguard Interflora’s future, providing funds to withstand the intense competition from the multiple retailers.
Each florist member would receive between £5,000 and £12,000 for their stakes and can choose whether to reinvest it for up to a 35 per cent stake.
However, the ISA will be looking to persuade florists they should fight to retain ownership of their association.
