1-800-Flowers.com (Nasdaq: FLWS) is buying gift company Harry & David Holdings Inc. for $142.5 million.
Harry & David sells gift baskets, fruits and gourmet gift items under the Harry & David, Wolferman's and Cushman's brands. Some of the company's best known products are its Royal Riviera pears, Fruit-of-the-Month club products, Tower of Treats gifts, Moose Munch caramel and chocolate popcorn snacks, Wolferman's specialty English muffins and Cushman's HoneyBells citrus gifts. The company reorganized through a Chapter 11 bankruptcy process in 2011, and exited from bankruptcy that September. In 2004, New York private equity firm Wasserstein & Co. paid $252.9 million to buy the company from Japanese conglomerate Yamanouchi Parmaceutical Co.