Romanian media group Mediafax and BAC Investment Banking buy stake in local flower shop business

Romanian media company Mediafax Group and consultancy firm BAC Investment Banking recently took a 35 percent stake in local flower retail business FlorideLux, according to an official announcement. FlorideLux owns the www.floridelux.ro online flower shop, but also www.brazidecraciun.ro, which sells Christmas trees, www.coroane.ro, which sells funeral wreaths, and www.cosuridelux.ro, which sells gift baskets for different occasions. The company also has some traditional flower shops under franchise. This investment comes after negotiations that took more than a year. Talks started after the 2013 edition of VentureConnect, a pitching event that brings together local entrepreneurs looking for financing for their businesses and potential investors. BAC Investments will hold 25 percent of the company and Mediafax will have 10 percent. According to the FlorideLux founder and CEO Marius Dosinescu, the new investors will be involved in the company’s management and strategy. The investments that the company plans for the next period will be focused on the development of the network, marketing and communication. FlorideLux wants to expand its network of franchises in all counties in Romania, with the same-day delivery system available in all of them. “The business development had a natural course, but the association with BAC Investment Banking and Mediafax will allow us to burn through some phases and reach our goals faster and more efficiently. We are aware that the flower market is promising, but also very much segmented, that’s why a very well thought strategy is necessary both for us and for the market,” Dosinescu said. Online Business Developments SRL, the firm that owns the FlorideLux brand and franchise, had a turnover of EUR 366,000 and a EUR 81,000 loss in 2012, according to data from the Finance Ministry. The company didn’t publish its results for 2013. Mediafax Group is the publisher of Romania's main newswire Mediafax, and of the business daily Ziarul Financiar, among others. editor@romania-insider.com