Bloom & Wild acquires bloomon to become Europe’s number 1
- Europe’s leading online flower delivery business
- Forecast revenues for current financial year substantially north of £200m
- Enlarged business to be profitable from the outset
- Operating in 8 countries across Europe• Team of 300 colleagues, headed by CEO Aron Gelbard
Bloom & Wild, the UK’s market leading online flower and gifting platform, announces that it has acquired the entire share capital of bloomon, a Netherlands based competitor, for an undisclosed sum. The acquisition quadruples the size of Bloom & Wild’s Continental European footprint overnight and establishes the Company as the largest online operator in the region’s £22bn flower and house plant market by number of deliveries. On a pro forma basis the combined business expects to exceed 8 million deliveries in 2021, with forecast revenues for the current financial year, ending 31 March 2022, substantially north of £200m. The enlarged business is expected to be profitable from the outset. The deal is to be financed from existing cash resources.
Like Bloom & Wild, bloomon is a direct to consumer online flower delivery business that was founded in The Netherlands by Bart Troost, Patrick Hurenkamp and Koen Thijssen in 2014. Known for their contemporary floral style and design aesthetic, the business, which is managed out of Amsterdam, has grown rapidly in recent years and now has a presence in five European countries, including Belgium, Denmark and Germany, employing a team of 130.
“This is a great deal for both companies, all team members and our customers. The acquisition delivers immediate scale across Europe and provides new and exciting opportunities for all staff from both businesses, who will be retained to drive ambitious growth across the continent. The entire management team is fully committed and invested in the long term success of the enlarged business and we are thrilled to invest in both brands as we accelerate our plans for European expansion,” said Bart Troost, CEO of bloomon, who will take up the new role of Chief International Officer. Patrick Hurenkamp will retain his current position as Chief Innovation Officer and alongside Troost will report directly to Aron Gelbard who will be CEO of the enlarged business.
“The deal offers substantial performance benefits spanning the whole business from new supplier relationships, best practice in fulfilment centres and the sharing of technology,” continued Troost.
The acquisition will create an end to end tech and data science platform that is unrivalled in the industry, with a superior shopping experience across mobile apps and web, and a proprietary data science platform that personalises digital experiences based on 10s of millions of data points shared by over 3 million customers, and state of the art supply chain and operations tooling.
The deal is highly complementary in terms of both geographic footprint and product. bloomon is strong in the Benelux and Danish markets, where Bloom & Wild has no presence, and small in the UK, where Bloom & Wild is the clear market leader. In Germany, where both operate, the combined entity will command valuable scale benefits from the effective doubling of its market share overnight. There are also substantial opportunities for product driven revenue synergies given bloomon’s heritage in subscriptions, which is a growing focus for Bloom & Wild, and Bloom & Wild’s strength in gifting.
The European flower and house plant market, which is worth an estimated £22bn a year, is growing and has been transitioning online in recent years. Both Bloom & Wild and bloomon have been at the forefront of this change, which has accelerated during the pandemic, and have been increasing their respective market shares. This structural shift to online, which enables a shorter supply chain, is forecast to continue.
Aron Gelbard, CEO and co-founder of Bloom & Wild said:
“With the completion of our first acquisition we have created Europe’s leading online flower delivery company. Over the past eight years we’ve grown rapidly, entirely through organic growth, into a profitable business with revenues substantially north of £100m. And now we’re excited to consolidate two leading players in the fragmented, £22bn European flower and house plant market. Together, we will continue to drive industry change and build on our ambitious sustainability roadmap.
I’m thrilled to welcome all of our new team members to the Bloom & Wild family. We have a shared ambition, common values and a mutual obsession with harnessing technology, supply chain innovation and outstanding bouquet design to revolutionise the customer experience. Our tech and data science platform, scale and investor backing makes us the natural consolidator as we continue to target rapid growth through organic and inorganic means, and further extend our European market leadership.”
Jonathan Klein, Executive in Residence at General Catalyst and Chairman of Bloom & Wild said:
“Bloom & Wild is one of those rare businesses that leads through culture and values, together with exceptional levels of customer satisfaction, and financial performance that is the envy of most companies. There is considerable room to grow in the UK, notwithstanding the fact that 1 in 60 households in the UK received a package from Bloom & Wild over Mother’s Day weekend, and a huge European opportunity. bloomon has done a similarly spectacular job in its markets. We are excited about what this combination of two strong brands with complementary assets and know how brings to all stakeholders, especially customers and team members, of both companies.”