Finlays has sold its horticultural business and other subsidiary companies to Sun European Partners – including its flower sites in Spalding and Weston.
The businesses, in Low Fulney and Stone Gate, produce bouquets using flowers from their own farms.
There are about 450 full time employees at the sites and at peak times there are a lot more temp and agency staff.
A spokesman for Sun European Partners said: “There are no intentions to make job cuts. Sun is fully supportive of the management team’s growth plan.”
Finlays managing director, Guy Chambers, said: “Finlays Horticulture has a strong customer base, an experienced management team and is performing well. So the decision to sell has not been taken lightly. However, this is a strategic decision. Finlays has a unique and integrated global footprint in the beverage industry. We felt that it was increasingly important to focus on beverages as our core business area, rather than trying to succeed globally at both beverages and horticulture.
“We have been working closely with Sun on this transaction and we are happy that they will be in a position to support the growth of the horticulture business.”
The transaction is expected to be completed before the end of 2015.
Martin Hudson, CEO Finlays Horticulture, said: “Our team is capable and committed to delivering value, quality, availability, sustainability, innovation and insight. This will continue under the new ownership of Sun.”