TD Fall Investing GuideTD Fall Investing Guide
Updated: Tue, 02 Sep 2014 09:15:36 GMT | By The Associated Press, thecanadianpress.com

1-800-FLOWERS buying Harry & David for $142.5M

CARLE PLACE, N.Y. - 1-800-FLOWERS.COM Inc. is buying Harry & David for $142.5 million to help broaden the assortment of foods that its customers can choose as gifts.


CARLE PLACE, N.Y. - 1-800-FLOWERS.COM Inc. is buying Harry & David for $142.5 million to help broaden the assortment of foods that its customers can choose as gifts.

The deal includes Harry & David Holdings Inc.'s brands, websites, 47 retail stores, some plants, orchards and its headquarters in Medford, Oregon.

Harry & David's fruit, food and other gifts are housed under brands including Wolferman's, Cushman's and its namesake. Products include Harry & David Royal Riviera pears, Tower of Treats gifts, Fruit-of-the-Month Club products, Wolferman's specialty English muffins and other breakfast products and Cushman's HoneyBells citrus gifts.

1-800-FLOWERS' brands already include Fannie May, Cheryl's and The Popcorn Factory.

Harry & David will become a subsidiary of 1-800-FLOWERS. Its current senior management staff will remain with the business.

The transaction is expected to close in October. It is anticipated to add to 1-800-FLOWERS earnings and revenue in the current fiscal year.

Shares of 1-800-FLOWERS, based in Carle Place, New York, jumped more than 12 per cent in Tuesday premarket trading.

Find the cheapest gas price near you!Find the cheapest gas price near you!
Scroll upScroll down

Recently recommended stories

advertisement