1-800-Flowers Buying Harry & David for $142.5 Million

Jay Mallin/Bloomberg via Getty Images
CARLE PLACE, N.Y. -- 1-800-Flowers.com (FLWS) 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' 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 percent in Tuesday premarket trading.


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