1-800-FLOWERS.COM, Inc. Completes the Sale of Its Fannie May Confections Brands, Inc. Bus. to Ferrero International S.A. for ...
May 30 2017 - 5:00PM
Business Wire
- Companies also sign agreement for a
strategic commercial partnership providing 1-800-Flowers.com, Inc.
with distribution rights for Fannie May, Harry London and certain
Ferrero confectionery products.
1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS) (“the Company”), the
leading gourmet food and floral gift provider for all occasions,
today announced the closing of its sale of Fannie May Confections
Brands, Inc., including its subsidiaries Fannie May Confections,
Inc. and Harry London Candies, Inc. to Ferrero International S.A.,
(“Ferrero”). Ferrero, one of the world’s largest chocolate
confectionery companies, is acquiring all the outstanding equity of
Fannie May Confections Brands, Inc. for $115.0 million in cash,
subject to adjustments for seasonal working capital.
In addition to the sale, the Company and Ferrero have entered
into a strategic commercial partnership that provides
1-800-FLOWERS.COM, Inc. with distribution rights for Fannie May,
Harry London and certain Ferrero confectionery products in its
ecommerce channels as well as in gift baskets sold into the club,
food, drug and mass channels in the US.
Chris McCann, CEO of 1-800-FLOWERS.COM, Inc. said, “The sale of
Fannie May further strengthens our balance sheet while concurrently
reducing the working capital requirements in our business model.
Importantly, the strategic commercial agreement we have signed with
Ferrero will enable us to continue offering the iconic Fannie May
and Harry London chocolate brands across our ecommerce and
wholesale gift basket channels while also adding some of Ferrero’s
world-renowned chocolate confectionery brands, including Nutella,
Ferrero Rocher and Raffaello, to our product offering. We are
excited to be working with Ferrero International, one of the
world’s largest and most respected confectionery companies, and the
Fannie May team, to further enhance our ability to deliver smiles
for our customers.”
About 1-800-FLOWERS.COM, Inc.
1-800-FLOWERS.COM, Inc. is a leading provider of gourmet
food and floral gifts for all occasions. For the past 40 years,
1-800-FLOWERS® (1-800-356-9377 or www.1800flowers.com) has
been helping deliver smiles for our customers with gifts for every
occasion, including fresh flowers and the finest selection of
plants, gift baskets, gourmet foods, confections, candles, balloons
and plush stuffed animals. As always, our 100% Smile Guarantee®
backs every gift. The company’s Celebrations suite of services
including Celebrations Passport Free Shipping Program, Celebrations
Rewards and Celebrations Reminders, are all designed to engage with
customers and deepen relationships as a one-stop destination for
all celebratory and gifting occasions. In 2017, 1-800-Flowers.com
was awarded Gold Stevie “e-Commerce Customer Service”
Award, recognizing the company’s innovative use of online
technologies and social media to service the needs of customers. In
addition, 1-800-FLOWERS.COM, Inc. was recognized as one of Internet
Retailer’s Top 300 B2B e-commerce companies and was also recently
named in Internet Retailer’s 2016 Top Mobile 500 as one of the
world’s leading mobile commerce sites. The company was included in
Internet Retailer’s 2015 Top 500 for fast growing e-commerce
companies. In 2015, 1-800-Flowers.com was named a winner of
the “Best Companies to Work for in New York State” Award by The New
York Society for Human Resource Management (NYS-SHRM). The
Company’s BloomNet® international floral wire service
(www.mybloomnet.net) provides a broad range of quality
products and value-added services designed to help professional
florists grow their businesses profitably.
The 1-800-FLOWERS.COM,
Inc. “Gift Shop” also includes gourmet gifts such
as premium, gift-quality fruits and other gourmet items from
Harry & David®
(1-877-322-1200) or www.harryanddavid.com), popcorn
and specialty treats from The Popcorn Factory®
(1-800-541-2676 or www.thepopcornfactory.com); cookies
and baked gifts from Cheryl’s®
(1-800-443-8124 or www.cheryls.com); premium
chocolates and confections from Fannie May®
(www.fanniemay.com and www.harrylondon.com); gift
baskets and towers from 1-800- Baskets.com®
(www.1800baskets.com); premium English muffins and other
breakfast treats from Wolferman’s (1-800-999-1910
or www.wolfermans.com); carved fresh fruit arrangements from
FruitBouquets.com (www.fruitbouquets.com); and top
quality steaks and chops from Stock
Yards® (www.stockyards.com). Shares
in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ
Global Select Market, ticker symbol: FLWS.
Special Note Regarding Forward-Looking Statements: This
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements represent the Company’s current
expectations or beliefs concerning future events and can generally
be identified by the use of statements that include words such as
“estimate,” “expects,” “project,” “believe,” “anticipate,”
“intend,” “plan,” “foresee,” “likely,” “will,” or similar words or
phrases. These forward-looking statements are subject to risks,
uncertainties and other factors, many of which are outside of the
Company’s control, which could cause actual results to differ
materially from the results expressed or implied in the forward-
looking statements, including, among others: The Company undertakes
no obligation to publicly update any of the forward-looking
statements, whether as a result of new information, future events
or otherwise, made in this release or in any of its SEC filings
except as may be otherwise stated by the Company. For a more
detailed description of these and other risk factors, and a list of
definitions of non-GAAP terms, including EBITDA and Free Cash Flow,
among others, please refer to the Company’s SEC filings including
the Company’s Annual Reports on Form 10-K and its Quarterly Reports
on Form 10-Q. Consequently, you should not consider any such list
to be a complete set of all potential risks and uncertainties.
Click here to subscribe to Mobile Alerts for 1-800-Flowers.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170530006021/en/
1-800-FLOWERS.COM, Inc.Investors:Joseph D. Pititto,
516-237-6131invest@1800flowers.comorMedia:Yanique Woodall,
516-237-6028ywoodall@1800flowers.com
1 800 Flowers Com (NASDAQ:FLWS)
Historical Stock Chart
From Mar 2024 to Apr 2024
1 800 Flowers Com (NASDAQ:FLWS)
Historical Stock Chart
From Apr 2023 to Apr 2024