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Breaking News!

FOR IMMEDIATE RELEASE

Contact: Mike Jackson
Investor Relations
(919) 732-3630
mike@multifloragreenhouses.com

Multiflora Greenhouses Acquires Austram Inc.

Hillsborough, NC (August 29, 2017) – Multiflora Greenhouses, a leading grower, manufacturer and distributor of horticulture and floriculture plants, announced it has officially acquired Austram Inc., the nation’s premier manufacturer and distributor for lawn and garden center décor.

Multiflora and Austram have been successfully providing garden, health and wellness products to the industry over a combined 72 years. To fuel the continued expansion, the employee base of both companies will remain intact along with several key personnel additions being added to support the businesses on a go forward basis.  The strategic alliance and related synergies which exist between both these industry leaders was recently on display at the Austram Shoppe Conference in Cherokee, NC as well as the Independent Garden Center Show in Chicago.

“We are very excited to have completed this transaction with Multiflora Greenhouses,” says James Rogers, President & CEO of Austram Inc. We believe that by having Multiflora absorb our industry leading brands of home and garden center décor and integrating these with one of the nation’s premier horticulture/floriculture growers, will create dynamic synergies and innovative combinations that will have broad industry appeal.  Austram will continue to produce the finest coco fiber, decorative fiber clay pots, wire baskets, planters and outdoor garden décor.  The two companies will immediately begin providing their customers with combination programs that will revolutionize the buying experience, allowing for retailers and garden centers to competitively differentiate themselves in the market.”

Richard Mason, Chairman & CEO of Multiflora Greenhouses, says, “We are very proud to be joining forces with such a high caliber, quality company like Austram. Their culture and core values align very nicely with what we’ve built at Multiflora.  In addition, Austram’s product sets are complimentary to our existing portfolio and will allow us to increase our value proposition across our diverse customer base.  For 37 years, Austram has been an industry bellwether and leading pioneer. Their reputation for quality, innovation and service is second to none. This acquisition will create innovative new brands, significant product enhancements, drive economies of scale and open new channels of distribution. As a result of the acquisition, we expect to report accretive revenue, margin improvement and positive return on capital for our shareholders during the 2018 fiscal year.  The purchase of Austram was a cash acquisition with no associated debt.  In partnership with Austram, we are committed to retaining our leadership position in the market by supplying our customers with quality products, exceptional service and a new generation of innovative product offerings to further enhance the customer experience.”

About Multiflora Greenhouses

Multiflora Greenhouses is a major U.S. horticulture/floriculture manufacturer, grower, and distributor of thousands of plant varieties, as well as other complimentary products/services. Located in Hillsborough, NC, near the Triangle region of Raleigh, Durham, and Chapel Hill, Multiflora serves both wholesalers and retailers. It also supports fundraisers for the benefit of schools, religious organizations, and other associations. The greenhouse produces bedding plants (annuals and perennials), vegetables, herbs, hanging baskets, and poinsettias, sowing from seed and use multiple cuttings per pot for beautiful, lasting plants.

Multiflora Greenhouses’ mission is a lifelong nature journey into the garden, health and wellness ecosystem.  We are committed to creating an eco-friendly and sustainable agricultural environment that can be experienced by consumers and businesses alike.  Through consumer-friendly products, community service, fundraising programs and an overarching belief in the goodness of humanity, Multiflora promotes beauty, peace, health and vitality to its customers and partners. Visit us online at www.multifloragreenhouses.com and like us on Facebook.

About Austram Inc.

Austram is the nation’s premier provider of high-quality lawn and garden market products. Globally recognized as the inventor of the coconut fiber-lined wire basket, Austram continues to expand its patented fiber-clay pot category while transforming its core coconut fiber and wire basket business to meet customer demand. The Durham, NC based company introduced the first coconut fiber-lined planter to the American market in 1981, then expanded into multiple lines of wire baskets, arbors, gazebos, metal benches, watering cans, plant stands and garden hooks.

A few years ago, Austram launched into the plastic biodegradable and fiber clay planter markets. Recently, the company introduced the first fiber-clay planters that had the look and appearance of being ceramic, yet were much lighter, colorfast, flexible enough to stay outside all year, and break-resistant. Visit Austram at www.austram.com and like us on Facebook.


Stay updated with our Events!

We love to be active in our community and we invite everyone to come out and be a part of our local happenings. You can stay updated with our upcoming events by visiting our website, reading our newsletter and following us on Facebook.

Upcoming Multiflora Events:

4th Annual Spring Open House

DATE: TBD 

Let’s kick-off the spring season together! Walk through acres of greenhouses to pick out your favorite plants, listen to live music, enjoy food & refreshments, play games and win prizes through our raffle! We want to bring the community together to celebrate the arrival of spring season and raise money for the Fairview Community Garden and Maple View Agricultural Education Center in Hillsborough. All proceeds raised through our raffle will benefit both of these non-profit organizations.

Ask us how to become a sponsor for 2018! 

2017 Upcoming Industry Events:

Austram Shoppe Conference
July 25-27
Harrah’s Resort Cherokee NC

Independent Garden Center Show

August 15-17
Chicago, IL

Wyatt Quarles Fall Dealer Show

October 4-5
Myrtle Beach, SC