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

Published September 2, 2014 10:05 am

Acquisitions • Purchase price includes brands, websites, orchards and 47 retail stores.
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Carle Place, N.Y. • Goumet food and gift retailer Harry & David is being bought by 1-800-FLOWERS.COM Inc. for $142.5 million to help broaden the assortment of foods 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, Ore. Harry & David's has a store at the Tanger Outlet mall outside of Park City.

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 jumped more than 12 percent Tuesday premarket trading.

 

 

 

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