Despite interest in the business from new investors, Thompson & Morgan CEO Bryan Magrath says its business as usual.
He commented: “It’s flattering to be considered an attractive target for investment but we remain focussed on our plans for the autumn season and won’t be distracted.”
It was announced this week that an improved performance and revitalised profitability have attracted a number of potential suitors towards the UK’s largest mail-order garden seed and plant company.
Current owner, Primary Capital, the growth company investor, has been approached by a number of interested parties and is now considering options for the future of the business.
Founded in 1855, turnover at Thompson & Morgan has more than doubled since the company was bought by Primary Capital. In recent years the company has consolidated its market leading position, with e-commerce revenue being over twice that of its nearest competitor. May 2015 alone saw 1.7 million visits to the award winning website, marking the best ever start to the spring season for the online specialists.
The improved performance of the past 12 months has been driven by a major focus on operational efficiency and exciting new product developments including the launch of Incredibloom® fertiliser, Incredicompost® and a new range of Van Meuwen branded seeds.
Thompson & Morgan has also made four key brand acquisitions in recent years (Van Meuwen, Rainbow Flowers & Gifts, The Vernon Geranium Nursery and Chempak Fertilisers) assisting in broadening the product and brand portfolio.