Fleur out of flowers
PA ! Auckland The Fleur Group, Ltd (previously Fleur International Corporation, Ltd) will quit the production and marketing of flowers and look to other avenues of endeavour. And the group’s founding chairman, Sir Lloyd Elsemore, has announced his retirement due to ill health. Fleur announced yesterday a series of divestments which would see a newly formed subsidiary, Flower Fresh NZ, Ltd, managed by Mr B.G. Mills, being sold to a group of growers. A director of Fleur, Mr C. D. Castle, said in a statement to the Stock Exchange that the sale of Flower Fresh was a more acceptable solution than a total closedown.
Sunbeam Nurseries, the group’s glasshouse-based production unit, will be leased to Flower Fresh.
The sale of the Fleur subsidiary Commercial Growers Supplies, Ltd is at Bt being negotiated, this not eventuate, the undertaking will be closed.
Fleur is also trying to sell its 50 per cent interest in the Christchurch-based flower wholesaler and exporter, R. W. Downie Ltd.
This latter divestment would complete the movement out of any direct Fleur involvement in the distribution of cut flowers in New Zealand.
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Press, 26 December 1985, Page 15
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187Fleur out of flowers Press, 26 December 1985, Page 15
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