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1-800-Flowers To Buy Shari's Berries For $20.5M

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1-800-Flowers To Buy Shari's Berries For $20.5M

1-800-Flowers.com Inc (NASDAQ: FLWS) has been successful in its bid for Shari's Berries brand, buying the company for $20.5 million.

Shari's Berries is a provider of dipped berries and other specialty treats. 1-800-Flowers.com will acquire the assets through one of its wholly owned subsidiaries and plans to close the transaction soon after the hearing. The bankruptcy court will consider approval of the transaction at a hearing to be held Aug. 9.

The company’s winning bid includes the acquisition of certain assets of FTD's gourmet food business, including more than 450 domain names, copyrights, trademarks, customer data, phone numbers and other intellectual property.

"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 of 1-800-Flowers.

1-800-Flowers.com shares were trading down 0.63% at $18.81 at time of publication. The stock has a 52-week high of $21.77 and a 52-week low of $10.

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Posted-In: Chris McCann Shari's BerriesM&A News Best of Benzinga

 

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