09 April 2022
MIAMI, USA: Decowraps, a leading packaging supplier to the floral industry, announced this week it has completed its acquisition of Flopak USA, a major player in pre-formed pot covers and floral delivery systems.
Decowraps partnered with Palladin Consumer Retail Partners, a Boston-based private equity firm, in August of 2020. This is the second acquisition Decowraps has completed since Palladin invested in the company.
The union of Decowraps design, production, and distribution facilities in Miami, Bogotá, Aalsmeer, Quito, Nairobi, and China; together with Flopak’s distribution facilities in St. Louis and production in Vietnam; improves the company’s supply chain, optimizes distribution of products and expands the product offering. This acquisition will result in a great win for both companies and enhance service to customers.
Steven Tchira, CEO of Decowraps, said “It’s invigorating to join forces with a team that’s as passionate as we are about seeing clients succeed. We are thrilled to have the seasoned and effective team of Flopak join the Decowraps family.”
Decowraps’ vision is to enhance special moments for the end consumer by offering customers innovative solutions to make their businesses more successful. With Flopak, Tchira sees the opportunity to support their vision; “By adding additional production and distribution facilities, we are expanding our geographical footprint and building a more robust supply chain, which will provide better service to our customers and drive the industry forward.”
“The Flopak team is excited about the shared vision of providing the best customer service in the industry. We are thrilled to be able to offer our customers enhanced design capabilities, and an expanded portfolio of products including hard good upgrades,” said Mike Greene, Director of Flopak USA.
Through an exceptional in-house design team, and superior customer service, the industry will see a greater array of products and services provided by highly experienced teams that are focused on creating innovative packaging solutions for the floral and potted industries.
Decowraps, founded by Steven Tchira in 1999, is headquartered in Miami, FL, and has design, production, and distribution facilities in Colombia, The Netherlands, Ecuador, Kenya, and China. The company is a leading supplier to the floral industry, focusing primarily on larger retail organizations and their suppliers worldwide. In-house design and sample capabilities, global sourcing, vertical integration, and personalized customer service have enabled Decowraps to achieve superior recognition and results as a supplier of innovative packaging options for all levels of fresh cut flowers and potted plants. The company provides its customers with custom and stock designs including sustainable options and prides itself on satisfying all customer requirements.
Palladin Consumer Retail Partners is a private equity firm with extensive experience investing in and building leading consumer brands. Founded in 1998, the firm prides itself on working closely with management teams to create value through strategic and operational initiatives. Its principals have previously held CEO and other senior executive roles at several wholesale, retail, and financial services companies, and have invested in, financed, or managed over 100 public and private companies. Other current and former investments include Splash Car Wash, Tailwind Hospitality, Leapfrog Brands, PB Metro, KT Tape, Nic+Zoe, InMotion Entertainment, J. McLaughlin, Things Remembered, Restoration Hardware, Spencer Gifts, Jamba Juice, Worldlynx, Multi-Flow, and Kwik-Tek.