Private equity firm Staple Street Capital (SSC) has announced a partnership with members of the Wilkins family to acquire Delaware Valley Floral Group (DVFG). DVFG, headquartered in Sewell, NJ, is a major supplier of fresh cut flowers and floral supplies in the Northeast and Mid-Atlantic regions.
Founded in 1959 by the Wilkins family and now in its third generation of ownership, DVFG will continue to have a significant family stake even after the transaction.
DVFG’s distribution network, cold chain delivery infrastructure, and global supplier relationships have solidified its position as a crucial wholesale partner for numerous retail florists and supermarket clients.
Jack Chidester, CEO of DVFG, expressed enthusiasm for the partnership with Staple Street Capital, emphasizing the alignment of values and the potential for growth and operational excellence.
Staple Street Capital sees this partnership as an opportunity to build on DVFG’s strong foundation and pursue exciting growth prospects in the floral distribution sector. They also mentioned their interest in exploring further investment opportunities in the wholesale florist distribution sector.
The deal was advised by Schulte Roth & Zabel LLP for Staple Street Capital and by TM Capital and King & Spalding LLP for DVFG.
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