August 2, 2006, 12:00 AM

FTD flowering with acquisition of Interflora Holdings

FTD Group has completed the acquisition of Interflora Holdings Limited, a U.K.-based provider of floral-related products and services that sells via the web and catalogs in the United Kingdom. FTD purchased the company for $122 million.

FTD Group Inc. has completed the acquisition of Interflora Holdings Limited, a U.K.-based provider of floral-related products and services that sells via the web and catalogs in the United Kingdom. FTD purchased the company for GBP 66 million, about $122 million U.S., excluding transaction costs.

Global brand Interflora uses the same “Mercury Man” logo as FTD. It provides products and services to 1,800 member florists and markets flowers direct to consumers in the U.K. through both a toll-free telephone number and the Internet, at Interflora.co.uk. It was founded in 1923.

FTD, No. 48 in the Internet Retailer Top 500 Guide to Retail Web Sites, has 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 about $345 million of outstanding debt.

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