1-800-Flowers to sell PersonalizationMall.com, Things Remembered

1-800-Flowers.com Inc. is divesting two of its online retail platforms in a move that it says will “simplify” its business.

The floral and gifting retailer has agreed to sell PersonalizationMall.com and Things Remembered to PlanetArt LLC, a leading global technology platform for personalized, make-on- demand e-commerce products. The deal is worth approximately $45 million in cash, and is subject to customary closing conditions.

The sale of the two online gifting platforms will allow 1-800 Flowers.com it to increase its focus on its primary brands, and allocate resources toward the opportunities it believes offer the “greatest potential to drive sustainable, profitable growth and long-term shareholder value, according to the company.

“The sale of PersonalizationMall.com enables us to further sharpen our portfolio focus, strengthen our financial position and create additional capacity to invest in the strategic initiatives we believe offer the greatest opportunity to drive improved performance and long-term growth,” said Adolfo Villagomez, CEO of 1-800-Flowes.com Inc. “As we continue to simplify our business, we are taking a disciplined approach to where ownership creates strategic value and where partnerships can provide a more efficient way to serve our customers.”