Ferrero International S.A. has reached a deal to buy chocolate manufacturer Fannie May Confections Brands from 1-800 Flowers.com Inc. (Nasdaq: FLWS). Fannie May will operate as a standalone entity and brand under the Ferrero Group as part of the deal.
Fannie May is a Chicago, Illinois-based manufacturer of chocolates and confections founded in 1920. The target operates a production facility in Ohio, with distribution centers in Ohio and Illinois. 1-800 Flowers, a provider of multi-brand gourmet candy and floral gifts, purchased Fannie May in 2006 for approximately $85 million. The target’s main distribution channels include online e-commerce platforms, telephone, QVC home shopping channel, retails stores, and private-label manufacturing capabilities.