Belgium-based UNIVEG Group has decided not to sell off UK flower grower Winchester Growers.
Winchester Growers had been considered for disposal, but following a strategic review, UNIVEG has suspended the sale process of the business with immediate effect.
Former managing director Gordon Flint has been appointed as executive chairman of the Winchester Growers board of directors. He will focus on the strategic development of the company with other board members Theo de Kool, Davide Bustreo and Simon Pearson.
Former commercial director Simon Pearson has taken over as managing director and will manage the daily operations of the company.
Winchester Growers, with a turnover of £51m in 2012, is one of the largest growers and packers of daffodils and also produces tulips, gladioli, lilies and other seasonal flowers to be sold into UK retailers and The Netherlands.
The company supplies Waitrose, which saw its biggest ever week for British daffodils in February with sales up 50 per cent year on year.