Marsh Parent Pares McNamara Florist Unit
INDIANAPOLIS -- Marsh Supermarkets here and its parent company, Florida-based Sun Capital Partners, pruned its McNamara Florist division for an undisclosed sum, leaving Toomie Farris as the principal shareholder of the 54-year-old florist, which is once again independently owned.
Founded by Bob McNamara as a single shop in 1958, the floral subsidiary and its four retail shops were bought by Marsh in March 2000 from Engeldow Group, which had purchased it in 1990.
"We decided to sell McNamara Florist as part of our strategic plan to focus on our core grocery business," Frank Lazaran, Marsh chairman and CEO, was quoted as saying in local press reports.
Farris said the services that McNamara provided to floral departments in Marsh Supermarkets and O'Malia's Food Markets will be discontinued, and told a local paper that the florist will maintain a headquarters in a Fishers, Ind., warehouse near I-69 and 96th Street.
McNamara Florist ranks 24th among florists in the volume of flowers going out to customers, according to FTD.
Earlier this week, Freeze Operations Holding Corp., an affiliate of Marsh's parent, Sun Capital Partners, acquired Friendly Ice Cream Corp. for $337.2 million in an all-cash transaction. The deal, which is expected to close during the third quarter, will award shareholders $15.50 per share.
Founded by Bob McNamara as a single shop in 1958, the floral subsidiary and its four retail shops were bought by Marsh in March 2000 from Engeldow Group, which had purchased it in 1990.
"We decided to sell McNamara Florist as part of our strategic plan to focus on our core grocery business," Frank Lazaran, Marsh chairman and CEO, was quoted as saying in local press reports.
Farris said the services that McNamara provided to floral departments in Marsh Supermarkets and O'Malia's Food Markets will be discontinued, and told a local paper that the florist will maintain a headquarters in a Fishers, Ind., warehouse near I-69 and 96th Street.
McNamara Florist ranks 24th among florists in the volume of flowers going out to customers, according to FTD.
Earlier this week, Freeze Operations Holding Corp., an affiliate of Marsh's parent, Sun Capital Partners, acquired Friendly Ice Cream Corp. for $337.2 million in an all-cash transaction. The deal, which is expected to close during the third quarter, will award shareholders $15.50 per share.