1-800-Flowers.com to Acquire Harry & David for $142.5M

1-800-flowers1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), a multi-channel retailer of gifts for all occasions, is to acquire Harry & David Holdings, Inc., for $142.5m.

JP Morgan Chase and Wells Fargo Bank provided financing to support the acquisition, which is expected to close in October 2014, subject to customary closing conditions, including regulatory approval.

Led by Craig Johnson, Chief Executive Officer, Harry & David Holdings, Inc. is a multi-channel specialty retailer and producer of gift-quality fruit, gourmet food products and other gifts marketed under the Harry & David®, Wolferman’s® and Cushman’s® brands. Products include Royal Riviera® pears, Fruit-of-the-Month Club® products, Tower of Treats® gifts, Moose Munch® caramel and chocolate popcorn snacks, Wolferman’s® specialty English muffins and other breakfast products, and Cushman’s® HoneyBells citrus gifts, among others.

The acquisition includes Harry & David’s brands and websites as well as its headquarters, manufacturing and distribution facilities and orchards in Medford, Oregon, a warehouse and distribution facility in Hebron, Ohio and 47 Harry & David retail stores located throughout the country. Harry & David’s current senior management team will remain with the business, which will become a wholly owned subsidiary of 1-800-FLOWERS.COM, Inc.

FinSMEs

02/09/2014

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