11 June, 2003 – Toronto, Canada
Access Flower Trading Inc. today announced that the Company has signed a Formal Agreement to buy out the interest in the Company held by Sunblush Technologies. The Company anticipates shortly announcing a buy-out of a few of its other first round investors. After the completion of those transactions it is anticipated that management will have control of Access Flower Trading Inc. Access Flower Trading is the owner and operator of FlowerBuyer.com, the only business-to-business (B2B) Dutch-style e-auction trading system in the world for the fresh-cut flower industry.
Commenting on the buyout, Mr. Cor Keeren the President and Chief Executive Officer of FlowerBuyer.com thanked Sunblush and all other first round investors for their support since first investing in FlowerBuyer.com. “We appreciate the input we have received from all our investors. Their continuous support helped us build Flowerbuyer.com into the successful company that it is today.â€
The sale arranged by management will sharpen the focus of the Company’s growth plan and provide greater agility that will see the continued build-up of North American operations and the expansion of the Company’s unique service into Europe.
Mr. Keeren explained, “We have at least a three year first-to-market advantage, and if you’ve earned that lead, you should take advantage of it. The buyout will allow management to move faster and build upon our proven systems and market advantage. Although many have tried there are no competitors offering similar trading services in the cut-flower commodity industry.â€
Commenting further on the transaction, Mr. Keeren mentioned that the Company’s North American and European growth plans may require the Company to seek additional financing and to consider different corporate structures. “FlowerBuyer.com has a tremendous growth rate and is profitable. We have an outstanding opportunity to more aggressively take advantage of the popularity of our on-line e-auction system to more rapidly penetrate our existing markets and expand into others.â€
About FlowerBuyer.com
FlowerBuyer.com’s service enables retailers, wholesalers and other commercial buyers to purchase an extensive variety of cut flowers from growers in Latin America (mainly from Colombia and Ecuador) and other countries such as The Netherlands, Italy, Thailand, Australia etc. Buyers access these products through live online e-auctions held 3 times per week. Over 800 consecutive auctions have been held since they began in 1997.
FlowerBuyer.com’s business-model-strategy has been to create a company that enjoys sustained and profitable growth. Since the Company’s e-auction service went operational it has experienced continuous and dramatic growth. New client registrations and buyer participation have continued to increase with over 1,100 new buyers registering in the last five months. Currently more than 6,000 commercial flower buyers in the United States, Canada, and Europe are registered to use the system to import fresh-cut flowers from the flower growing regions of the world.
Access Flower Trading Inc. today announced that the Company has signed a Formal Agreement to buy out the interest in the Company held by Sunblush Technologies. The Company anticipates shortly announcing a buy-out of a few of its other first round investors. After the completion of those transactions it is anticipated that management will have control of Access Flower Trading Inc. Access Flower Trading is the owner and operator of FlowerBuyer.com, the only business-to-business (B2B) Dutch-style e-auction trading system in the world for the fresh-cut flower industry.
Commenting on the buyout, Mr. Cor Keeren the President and Chief Executive Officer of FlowerBuyer.com thanked Sunblush and all other first round investors for their support since first investing in FlowerBuyer.com. “We appreciate the input we have received from all our investors. Their continuous support helped us build Flowerbuyer.com into the successful company that it is today.â€
The sale arranged by management will sharpen the focus of the Company’s growth plan and provide greater agility that will see the continued build-up of North American operations and the expansion of the Company’s unique service into Europe.
Mr. Keeren explained, “We have at least a three year first-to-market advantage, and if you’ve earned that lead, you should take advantage of it. The buyout will allow management to move faster and build upon our proven systems and market advantage. Although many have tried there are no competitors offering similar trading services in the cut-flower commodity industry.â€
Commenting further on the transaction, Mr. Keeren mentioned that the Company’s North American and European growth plans may require the Company to seek additional financing and to consider different corporate structures. “FlowerBuyer.com has a tremendous growth rate and is profitable. We have an outstanding opportunity to more aggressively take advantage of the popularity of our on-line e-auction system to more rapidly penetrate our existing markets and expand into others.â€
About FlowerBuyer.com
FlowerBuyer.com’s service enables retailers, wholesalers and other commercial buyers to purchase an extensive variety of cut flowers from growers in Latin America (mainly from Colombia and Ecuador) and other countries such as The Netherlands, Italy, Thailand, Australia etc. Buyers access these products through live online e-auctions held 3 times per week. Over 800 consecutive auctions have been held since they began in 1997.
FlowerBuyer.com’s business-model-strategy has been to create a company that enjoys sustained and profitable growth. Since the Company’s e-auction service went operational it has experienced continuous and dramatic growth. New client registrations and buyer participation have continued to increase with over 1,100 new buyers registering in the last five months. Currently more than 6,000 commercial flower buyers in the United States, Canada, and Europe are registered to use the system to import fresh-cut flowers from the flower growing regions of the world.
