1-800-FLOWERS.COM acquires Shari's Berries
The deal at a glance
1-800-FLOWERS.COM acquired Shari's Berries for $20.5 million, a transaction completed in August 2019, structured as Asset purchase through the bankruptcy proceeding of FTD Companies, Inc..
Shari's Berries operates in Gourmet Foods & Gift Baskets, is based in United States. On August 14, 2019, 1-800-FLOWERS.COM completed its acquisition of the Shari's Berries business, a leading provider of dipped berries and other specialty treats, for a purchase price of $20.5 million through a bankruptcy proceeding of certain assets of the gourmet food business of FTD Companies, Inc. The acquisition included the Shari's Berries domain names, copyrights, trademarks, customer data, phone numbers and other intellectual property, plus certain raw-material inventory. (Disclosed in the company's Form 10-K.)
Added a well-known dipped-berries gifting brand to the Gourmet Foods & Gift Baskets segment, expanding the company's specialty-treats offering with expected operating-cost and revenue-growth synergies.
Synergistic value in operating costs and revenue growth, enhanced financial and operational scale, and other strategic benefits per the company's purchase-accounting disclosure. Operated as the Shari's Berries brand within the Gourmet Foods & Gift Baskets segment.
No advisory firms have been disclosed for this transaction.