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US private equity firm Leonard Green sells florist chain FTD for $754m28/08/2008. Source: AltAssets. 
 Los Angeles private equity firm Leonard Green & Partners has completed the sale of florist chain FTD Group to United Online for $754m. The firm announced the sale in April of this year, though for the higher price of $800m.
United Online will pay $10.15 in cash and offer 0.4087 of a share of United Online for each share of FTD, for a total value of $14.62 per share of FTD, based on United Online's closing stock price of $10.93 on 26 August 2008.
The deal includes $441m, consisting of $307m in cash and approximately 12.3 million shares of United Online stock. The remaining purchase price consists of repayment of FTD debt and expenses incurred in connection with the transaction, according to a statement.
Leonard Green acquired FTD in February 2004. The company later completed the add-on acquisition of UK florist Interflora for £66m, in 2006.
In March of last year Leonard closed its Green Equity Investors V fund on $5.3bn.
The firm's investments are focused primarily on North American companies in sectors including retail, consumer products, distribution, media, business services and healthcare.
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