1-800 Flowers.com to buy Harry & David
Harry & David has agreed to be acquired by 1-800 Flowers.com for $142.5 million in cash.
Posted Sep. 2, 2014 @ 9:46 am
Updated Sep 2, 2014 at 9:49 AM
Harry & David has agreed to be acquired by 1-800 Flowers.com for $142.5 million in cash.
By joining forces with 1-800-Flowers.com,Harry & David will become part of a larger corporation with infrastructure, distribution network and a global presence.
The acquisition includes Harry & David’s brands and websites as well as its headquarters, manufacturing and distribution facilities and orchards, a warehouse and distribution facility in Hebron, Ohio, and 47 Harry & David 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.
The deal is expected to close in October.
Harry & David CEO Craig Johnson, who took the helm of the company when it emerged from Chapter 11 court protection three years ago, referred questions to public relations firm Sard Verbinnen & Co. The New York firm served as Harry & David’s buffer when Wasserstein & Co. took the company into bankruptcy.
A Sard Verbinnen representative said it’s too early to discuss the implications of integration on the company’s present leadership team.
— Greg Stiles
