In January 2007, FdG Associates led the recapitalization of USA Bouquet, a leading marketer, importer, processor and distributor of fresh floral products based in Miami. The transaction was structured to allow the Company's founder and other management shareholders to realize liquidity while retaining a meaningful equity ownership interest in the Company on a tax-deferred basis. The Company is focused on serving the mass merchandiser, grocery and club channels through its full-service processing and distribution facilities in Miami, Atlanta, New Jersey, Chicago, Southern California and Dallas. In addition, the Company provides e commerce fulfillment services from all of its locations, serving nationally recognized direct marketing companies that sell floral products over the Internet.
USA Bouquet will use capital from the transaction to grow within its current geography and expand into new territories by opening additional full-service regional processing and distribution centers. This will allow USA Bouquet to better serve its current base of customers and expand to serve other customers. In addition, the Company will work with FdG to identify and execute strategic acquisitions that enhance the Company's product and service offerings.