Floramoda Inc. purchases assets of Nurserymen’s Exchange

Floramoda Inc., a subsidiary of Monterey Peninsula Horticulture in Salinas, Calif., has won the bid to purchase certain assets of Nurserymen’s Exchange, a wholesale grower in Half Moon Bay, Calif. Nurserymen’s Exchange filed Chapter 11 bankruptcy earlier this year.
A press release from Monterey Peninsula Horticulture indicated that the “Floramoda purchase provides financial stability and security for Nurserymen’s Exchange and its employees”. The release also stated that the purchase would enable “Nurserymen’s Exchange to move forward with certainty in the future of the company”.
“Nurserymen’s Exchange has a long legacy in the industry and in its community,” said Charles Kosmont, CEO of Monterey Peninsula Horticulture. The new Floramoda/Nurserymen’s Exchange relationship will enable that legacy to continue and thrive as we build on each other’s strengths.”
Nurserymen’s Exchange began in 1941 and is one of the country’s largest wholesalers of indoor blooming plants, specialty foliage and packaged plants. In addition to Monterey Peninsula Horticulture’s 5.5 million sq. ft. of greenhouse growing space, the purchase will make the company the third largest greenhouse grower in the country.
Monterey Peninsula Horticulture, which was founded in 1981, currently has three subsidiaries: Rocket Farms, Growers Transplanting and Floramoda.