Posted by Multiflora Greenhouses on August, 29, 2017 10:03 pm
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.