Accent Equity invests in two Swedish flower companies, merges them.

Rydells Försäljning AB and S-Blommor i Stockholm AB, two family businesses active within cultivation, production and sales of flowers in Sweden, have agreed to merge with the investment fund Accent Equity 2012 as a new co-owner.

The companies, both based in Vallentuna, have combined revenues of more than SEK 500 million ($57.5M) and will become an integrated player focusing on Swedish grown flowers.

The transaction was financed as an investment from Accent Equity Partners, which becomes co-owner.

Rydells and S-Blommor i Stockholm both have long-standing experience as suppliers of flowers, primarily to Swedish grocery stores. The merged company will, apart from sourcing from existing suppliers, conduct cultivation in its proprietary green house of 6,000 sqm located north of Stockholm as well as continuing with production and sales to their more than 300 existing customers, mainly within grocery stores.

Rydells, since 1912, is a flower wholesaler, specialised within flowers for grocery stores. The operations are conducted in the Mälaren Valley, Södermanland, Östergötland and on Gotland, and the flowers are sourced from the company’s own cultivation in Vallentuna and from local growers and gardens. The company has approximately 100 employees and delivers to about 170 stores.

S-Blommor i Stockholm, with history dating back to 1976, is specialised on flowers and accessories for grocery stores in the Mälaren Valley. Owns a proprietary production plant for bouquets and arrangements. The company also operates five florist stores in Stockholm under the brand Blomsterpassagen. The company has approximately 140 employees and delivers to about 170 stores.

Lars Fins becomes CEO of the new group. Lars was previously, for eight years, Nordic CEO of the health products chain Life.