1-800-FLOWERS.COM acquired The Popcorn Factory for $12.6 million, a transaction completed in May 2002, structured as Acquisition of The Popcorn Factory from Wand Partners, Inc..
The Popcorn Factory operates in Gourmet Foods & Gift Baskets, is based in United States. 1-800-FLOWERS.COM acquired The Popcorn Factory, a multi-channel direct marketer of premium popcorn and other food gift products (chocolates, cookies and confections sold in decorative gift tins and baskets), from private investment firm Wand Partners, Inc. The Popcorn Factory generated approximately $30 million in revenue during calendar 2001.
Accelerated growth in the gourmet food gifts and gift baskets category for both consumer and corporate gifting, consistent with the company's business-development strategy.
Leverage of brands, 10-million-customer database, online presence and same-day/next-day delivery to drive sales and operating efficiencies; gross margins in excess of 45%. Operated as a gourmet food gift brand within the company's gift portfolio.
The Popcorn Factory's product offering of high quality and proprietary popcorn and confectionery gifts will help us accelerate our already substantial growth in the gourmet food gifts and gift baskets category for both consumer and corporate giving.Jim McCann, CEO, 1-800-FLOWERS.COM
The Popcorn Factory is an excellent fit with 1-800-FLOWERS.COM and we see significant growth opportunities for the company as part of 1-800-FLOWERS.COM's broad gift offering.Bruce Schnitzer, Chairman, Wand Partners
Advisory firms were not disclosed for this transaction.