1300 Flowers acquires Fast Flowers
1 October 2010 – 1300 FLOWERS acquires Fast Flowers Group
Australian flower retailer 1300 FLOWERS today announces the friendly acquisition of the privately held Fast Flowers Group. The acquisition further cements 1300 FLOWERS’ position as one of Australia’s leading floral retailers.
1300 FLOWERS’ chairman Jack Singleton says he is “delighted by the transaction that brings Fast Flowers under the 1300 FLOWERS umbrella. Fast Flowers has strong brand recognition and has grown to become an industry leader over the last decade. This is testament to the abilities of CEO Jonathan Barouch and his management team”.
1300 FLOWERS will take operational control of the Fast Flowers Group in October and will continue to maintain both brands.
According to Jack Singleton“there are significant synergies between the two operations and we have picked up some wonderful assets which will only serve to improve our supply chain – which means fresher flowers – and more of them – for our customers”.
Jonathan Barouch is pleased with the acquisition, having founded the company as a high school student in 1999. “Growing Fast Flowers from an idea into one of Australia’s high profile floral brands has been a wonderful experience. I have known and respected Jack’s business abilities for almost 10 years so I couldn’t have asked for a better person to lead the business through its next stage of growth”.
Jonathan is looking forward to pursuing other business opportunities after the successful integration.