NEW YORK--(BUSINESS WIRE)--Staple Street Capital (“SSC”), a middle-market private equity firm, announced a partnership transaction with members of the Wilkins family to acquire Delaware Valley Floral Group (“DVFG” or the “Company”). Headquartered in Sewell, NJ, DVFG is the largest supplier of fresh cut flowers and floral supplies across the Northeast and Mid-Atlantic regions. DVFG is a third-generation family-owned business founded in 1959 by the Wilkins family, members of which will continue to hold a significant stake post-close. The Company's hub-and-spoke distribution architecture, cold chain delivery infrastructure, and global supplier relationships have entrenched DVFG as the mission critical wholesale partner of thousands of retail florists and supermarket customers.
Jack Chidester, Chief Executive Officer, commented, “In seeking the right partner, we were determined to find a firm that understood our core values, customer-first mindset, and passion for the pursuit of operational excellence. We are excited to embark on this journey with Staple Street Capital, as they have a proven track record of empowering companies to reach new heights while preserving their unique identity and values. This partnership represents a significant milestone for our Company and opens up a world of new growth possibilities moving forward."
The partners from Staple Street Capital remarked, “We are thrilled to partner with the DVFG management team and to build upon the Company’s strong foundation. From our first meeting, we felt a strong cultural alignment with the family and had a shared vision for the exciting growth opportunities for the business.”
SSC is actively seeking other investment opportunities in the wholesale florist distribution sector as add-ons or independent platforms.
Staple Street was advised by Schulte Roth & Zabel LLP. DVFG was advised by TM Capital and King & Spalding LLP.
Founded in 1959, DVFG is the largest floral distribution and logistics company in the United States. The Company's leading distribution footprint and cold chain infrastructure enable next-day flower delivery for thousands of customers. For more information, visit https://dvflora.com/
About Staple Street Capital
Staple Street Capital is a leading private equity firm with approximately $900 million of capital under management and invests in market‐leading businesses where there are transformational opportunities to create value. SSC helps companies capitalize on new opportunities to build stronger, more valuable businesses. For more information see www.staplestreetcapital.com