1-800-Flowers Acquires Gift Basket Company
Expanding its offerings, 1-800-Flowers.com announced it has acquired DesignPac Gifts, LLC., a designer and assembler of gourmet gift baskets, gourmet food, gift towers and gift sets.
The acquisition will bring "tremendous capabilities and experience in design, sourcing, production and distribution of gift baskets and gift sets, as well as strong relationships with many of the leading retailers throughout the country," says Jim McCann, CEO of 1-800-Flowers, in a release. The purchase cost approximately $36 million and was closed on April 30.
The senior management at DesignPac will remain on staff and the company's headquarters in Melrose Park, Ill., will also stay in place, say officials. The gift company, which is now a wholly owned subsidiary of 1-800-Flowers, is said to have generated revenues of more than $50 million in 2007.
DesignPac will join with 1-800-Flowers.com's other gift offerings, which include Fannie May Confections, The Popcorn Factory and Cheryl&Co.
--Kori Kamradt
kkamradt@safnow.org
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