The new Caulders Cupar Garden Garden Centre will initially employ 16 members of staff, rising to 30 by the summer of 2017. The business employs over 150 members of staff across its five garden centres in Scotland.
The business is owned and managed by husband and wife team Colin and Amanda Barrie, who opened their first garden centre in Mugdock in 1999.
Jim Wales, commercial relationships manager at Clydesdale Bank, which loaned Caulders £1 million for the purchase said: "We’ve been working with Mr and Mrs Barrie for over 14 years, so it’s been wonderful to see them progress into becoming one of the largest independently-owned garden centre businesses in Scotland.
"We were delighted to be able to provide 100% of the funding required, as we are always keen to support businesses looking to purchase new premises."
Colin Barrie said: "With the continued support of the Clydesdale Bank, we are delighted to grow our business.
"The purchase of Cupar Garden Centre gives us a great opportunity to develop and relaunch a fantastic garden centre in north east Fife. We are excited about the development and look forward to becoming part of the community. Caulders is very much an independent family business."