1-800-Flowers expands brand portfolio with acquisition
1-800-Flowers has acquired a key asset of a bankrupt competitor.
The flower and gift delivery company was the successful bidder at the auction held on July 31, 2019 for Shari’s Berries and other certain brand certain assets of the gourmet food business of the FTD Companies, which filed for bankruptcy in June. The bankruptcy court will consider approval of the transaction at a hearing to be held on August 9, 2019.
1-800 Flowers' winning bid of $20.5 million includes more than 450 domain names, copyrights, trademarks, customer data, phone numbers and other intellectual property ofFTD’s gourmet good business.
“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,” said Chris McCann, CEO, 1-800-Flowers.com. “Shari’s Berries is a leading provider of dipped berries and other specialty treats with strong brand awareness and a 15-year heritage in the gourmet gift industry. We see Shari’s Berries as an excellent fit in our “all-star” family of brands and the acquisition will help further expand our authority position as a leader in the growing gourmet food and gift baskets space.”
McCann said that the company plans to gradually integrate the Shari’s Berries brand into its operating platform and to work to reposition the brand as a premium provider of dipped berries and other gourmet treats.
“As with all of our brands, we will focus on driving strong top and bottom-line performance for the Shari’s Berries brand by enhancing the overall customer experience and leveraging the unique capabilities of our business platform to improve its operating efficiency,” he said.
1-800-Flowers Inc. owns a variety of gift brands, including Harry & David, Moose Munch, The Popcorn Factory, Wolferman’s, Cheryl’s Cookies and more.