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Deal will create a multi-occasion, omni-channel giftretailer with more than $1 billion in sales.
O n September 2, Carle Place, N.Y.-based 1-800-FLOWERS.COM, Inc. announced it had signed an agreement to acquire Harry & David Holdings, Inc., a leading multi-channel specialty retailer and producer of branded premium fruit and gourmet food gifting products, which also include such confections as Tower of Treats gifts and Moose Munch caramel and chocolate popcorn snacks.
The $142.5-million cash acquisition includes Harry & David's brands and websites as well as its headquarters, manufacturing and distribution facilities and orchards in Medford, Ore., 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.
"We are extremely pleased to be adding the iconic Harry...