May 30, 2017
1-800-FLOWERS.COM, Inc. Completes the Sale of Its Fannie May Confections Brands, Inc. Business to Ferrero International S.A. for $115.0 Million
- 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.
CARLE PLACE, N.Y.--(BUSINESS WIRE)--
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.
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1-800-FLOWERS.COM, Inc.
Investors:
Joseph
D. Pititto, 516-237-6131
[email protected]
or
Media:
Yanique
Woodall, 516-237-6028
[email protected]
Source: 1-800-FLOWERS.COM, Inc.