Cleveland Plant & Flower Company

Situation

With six distribution centers located in Ohio, Pennsylvania, and North Carolina, along with a fleet of more than 100 trucks, The Cleveland Plant & Flower Company (“CPF”) is one of the largest wholesale distributors of floral products in the United States.

A family-owned business with more than 100 years of operating history, CPF provides clients in the retail florist, supermarket, event planning, catering, crafting, and fund raising market segments with high-quality imported fresh flowers, foliage, plants, floral supplies, and related novelty items.

Solution

Amherst’s Restructuring Advisory Group was initially engaged to assist the Company with a review of strategic alternatives for the business.

As the engagement developed, Amherst and the management team created a turnaround plan calling initially for the identification and sale of select underperforming branch locations.

Following the successful completion of that process, Amherst then assisted CPF in securing new financing to support ongoing operations and fund growth initiatives.

Results

The Amherst team’s approach emphasized active engagement with CPF’s existing management who, over the course of the process, enthusiastically embraced the opportunities created in the restructuring for continued growth at the Company’s core locations.