1-800-Flowers to acquire FTD's Shari's Berries in $20.5M deal
1-800-Flowers in Carle Place, seen on Oct. 29, 2013. Credit: Barry Sloan
Carle Place-based online florist and gift retailer 1-800-Flowers.com said Monday that it would acquire FTD's Shari's Berries — a seller of chocolate-dipped strawberries and other gourmet sweets — for $20.5 million.
The company placed the winning bid for part of FTD Companies Inc.'s gourmet food business, including the Shari's Berries brand, 450 domain names, copyrights, trademarks, customer data, phone numbers and other intellectual property, at a July 31 auction that was part of FTD's bankruptcy proceedings.
"We are very excited to have been the winning bidder for the Shari's Berries brand and we are looking forward to getting final court approval and closing the transaction later this month," Chris McCann, chief executive of 1-800-Flowers, said in a statement.
"We see Shari's Berries as an excellent fit in our 'all-star' family of brands, and the acquisition will help further expand our ... position as a leader in the growing gourmet food and gift baskets space."
The bankruptcy court will consider approval of the transaction at a hearing on Friday. Flower and gift delivery service FTD, a nearly 110-year-old company based in Downers Grove, Illinois, filed for Chapter 11 bankruptcy in June.
In 2014, FTD had acquired online florist ProFlowers and sister brands Shari’s Berries and Personal Creations for $430 million in 2014, in hopes of bringing in more customers with a wider variety of floral and gift products, according to a court filing.
McCann said 1-800-Flowers plans to gradually integrate Shari's Berries into its operating platform and will focus on "driving strong top and bottom-line performance" for the brand.
1-800-Flowers.com placed the winning $20.5 million bid to acquire Shari's Berries, a seller of chocolate-dipped strawberries. Credit: 1-800-flowers.com Inc.
Further details about plans for the brand will be discussed on Aug. 22, when 1-800-Flowers provides its fourth-quarter and full-year results, a company spokeswoman said.
The company's brands also include The Popcorn Factory, Cheryl's Cookies, Harry & David and Simply Chocolate.
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