DOWNERS GROVE, Ill.--(BUSINESS WIRE)--July 31, 2006--FTD Group,
Inc. (NYSE:FTD), a leading provider of floral products and services,
today announced that it has completed the acquisition of Interflora
Holdings Limited, a U.K. based leading provider of floral-related
products and services to consumers and retail floral locations in the
U.K. The acquisition, first announced on July 7th, 2006, was made for
a purchase price of GBP 66 million, or approximately $122 million,
excluding transaction costs.
Interflora is a globally recognized brand and utilizes the same
Mercury Man logo as FTD. Similar to the business model of FTD,
Interflora provides various products and services to its 1,800 member
florists, and also markets flowers direct to consumers in the U.K.
through both a toll-free telephone number and the Web at
www.interflora.co.uk. Founded in 1923 and previously operated as an
unincorporated association, Interflora incorporated in February 2005
and began running as a "for-profit" organization.
The Company also refinanced its existing bank debt in connection
with the acquisition and entered into a new senior secured credit
facility consisting of a $150 million term loan and a $75 million
revolving credit facility. The proceeds from the new facility were
used to finance the acquisition and repay the existing term loan. As a
result, the Company currently has approximately $345 million of
"We are pleased to have Interflora as part of the FTD family and
are excited about working with the management team to expand our
platform and establish ourselves in the European marketplace," stated
Michael Soenen, Chief Executive Officer of FTD.
ABOUT FTD GROUP, INC.
FTD Group, Inc. is a leading provider of floral-related products
and services to consumers and retail florists, as well as other retail
locations offering floral products, in the U.S., Canada and the U.K.
Our business is supported by the highly recognized FTD and Interflora
brands. Both brands utilize the Mercury Man logo, which is displayed
in approximately 50,000 floral shops globally. Our consumer businesses
operate primarily through the www.FTD.COM Web site in the U.S. and
Canada and the www.interflora.co.uk Web site in the U.K. and are
complemented by our florist business which provides products and
services to our independent florist network.
CONTACT: FTD Group, Inc.
Jandy Tomy, 630-724-6984
SOURCE: FTD Group, Inc.