1-800-FLOWERS.COM Bolsters Corporate Gifting Capabilities Via SmartGift Deal

  • 1-800-FLOWERS.COM Inc FLWS has acquired the gifting platform SmartGift Inc. The financial terms of the transaction were not disclosed.
  • SmartGift will provide FLWS with a customized gifting solution for all kinds of gifting experiences, including retail, entertainment, corporate, and more, through its engagement and rewards platform and features.
  • The acquisition of SmartGift expands the company's consumer and corporate gifting capabilities.
  • It allows users to send, track, and manage gifts and recognition campaigns for employees and clients quickly and efficiently. 
  • Bernd Strenitz, Founder and CEO, SmartGift, Inc., will join FLWS as Vice President, SmartGift.
  • The company held $189.7 million in cash and equivalents as of January 1, 2023.
  • Price Action: FLWS shares are trading lower by 5.83% at $8.15 on the last check Tuesday.
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