Sunshine and Showers

Sunshine and Showers

max temp: 7°C

min temp: 3°C

Search

Seed firm Thompson & Morgan to remain in Ipswich following acquisition by BVG Group

PUBLISHED: 09:34 09 March 2017 | UPDATED: 10:05 09 March 2017

Ipswich based seed firm Thompson & Morgan has been sold

Ipswich based seed firm Thompson & Morgan has been sold

Thompson & Morgan, one of the UK’s largest mail order seed and plant companies, has been sold by its private equity owner to a multi-channel retail group.

Thompson & Morgan's secret plant breeding site near Ipswich

 - the company has been sold, it has been revealed todayThompson & Morgan's secret plant breeding site near Ipswich - the company has been sold, it has been revealed today

Ipswich-based Thompson & Morgan (T&M), which was founded in 1855, has been acquired for an undisclosed sum by BVG Group, based at Brecon, Powys, which also owns the Clifford James brand.

T&M has been owned since 2002 by London-based Primary Capital Partners, which is understood to have made unsuccessful attempts to sell the Suffolk business in 2011 and 2015.

BVG, which also operates the Telegraph Shop and Mirror Reader Offers, said T&M would continue to be based in Ipswich, operatinig alongside its headquarters in Wales and a distribution centre in Skelmersdale, Lancashire.

A spokesman said: “BVG brings its strength in e-commerce and multi channel marketing to combine with T&M’s deep knowledge of all things horticultural.

“T&M will continue to be run as a separate business with its current management team working with the team from BVG to explore opportunities to grow the business and to share best practice.”

T&M sells flower and vegetable seeds, young plants, bulbs, nursery stock plants, fruit, potatoes and garden accessories through a variety of channels including catalogue, online, retail, reader offers and promotions and TV shopping.

Primary Capital said that T&M had more than doubled in size over the course of its investment in the company, through “steady organinic growth and some small acquisitions”.

The value of the sale represented return of 2.9 times the cost of investment for Primary’s second fund, it added.

Peter Jacobs, who led the original deal for Primary and represented its interests throughout the period of the investment, said: “We are pleased that T&M has been sold to a strategic buyer in BVG Group and wish everyone involved with T&M all the best for the future.”

Bryan Magrath, chief executive of T&M, added; “Primary have proven to be excellent partners for the T&M business over the past few years. They fully supported our plans and backed us in all our initiatives and objectives.”

Accounts filed at Companies House show that Thompson & Morgan Group Holdings generated turnover of £33.969m in the year to June 30, 2016 and a pre-tax profit of £587,000, compared with a loss of £1.611m the previous year.

BVG said that, including T&M, the enlarged group would have annual sales of around £140m.

Search hundreds of local jobs at Jobs24

Police have arrested a man on suspicion of an immigration offence in Ipswich.

A pub in Suffolk is hosting a party for four-legged friends to celebrate winning a national award.

Marks & Spencer has been criticised for a “grotesque” and “vomit-inducing” Christmas window display advertising women’s “fancy little knickers” alongside men’s suits.

EDF Energy has announced the launch date for the third stage of the public consultation for a new nuclear power station on the Suffolk coast, Sizewell C.

Wintry weather is set to continue in Suffolk as sub-zero temperatures are set to leave freezing conditions for residents overnight.

The family of a brutally murdered Ipswich woman have made an impassioned plea for help in finally bringing her killer to justice, 25 years on.

The Ministry of Defence (MOD) has awarded a £160m contract to Kier VolkerFitzpatrick to get RAF Lakenheath ready for two squadrons of US F-35s.

The Bury St Edmunds Christmas Fayre is hailed as one of the best in Europe and is right on our doorstep in Suffolk.

A police employee has been ordered to repay almost £1,700 in fraudulent expenses claims.

There is good news for bargain hunters in Stowmarket as a discount store bids to make a return to the town.

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Ipswich Star daily newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

MyDate24 MyPhotos24