1-800-Flowers sells gift division for $17M
1-800-Flowers.com Inc. has closed on the $17 million sale of its home and children's gifts business to a Virginia company, the company said Tuesday.
The Carle Place florist sold the gifts division to PH International Llc, a Richmond, Va.-based manufacturer and wholesaler of home decor and garden products.
Included in the sale are five gift lines: Plow and Hearth, Problem Solvers, Wind and Weather, HearthSong and Magic Cabin, the company said.
Also part of the sale were the 1-800-Flowers.com gifts division offices and warehouse facility in Madison, Va., and a warehouse distribution center in Vandalia, Ohio.
The company will focus on its consumer floral business, its BloomNet wire service and its gourmet food and gifts basket business, including the 1-800-Baskets.com brand.
The January closing date allowed the company to keep the gifts line during the Christmas season, typically a high point in the year's retail cycle.
"We're very pleased to have concluded this transaction. This will enable us to focus all of our efforts and investments on our core business categories," Jim McCann, chief executive of 1-800-FLOWERS.COM, said in a statement.
Snowy mix hits region ... What's the future of NUMC? ... LI Swifties ready for the big game ... Chow down in Charleston ... What's up on Long Island
Snowy mix hits region ... What's the future of NUMC? ... LI Swifties ready for the big game ... Chow down in Charleston ... What's up on Long Island