Carle Place, NY — 1-800-Flowers.com, Inc. was the top bidder at an auction held July 31 for certain assets of FTD Companies, Inc.’s food business, including the Sheri’s Berries chocolate-dipped fruit brand, according to the purchasing company. Overall, the deal includes more than 450 domain names, copyrights, trademarks, customer data, phone numbers and other intellectual property.
The winning $20.5 million bid is subject to bankruptcy court approval, with a hearing slated for August 9, according to 1-800-Flowers. The company plans to acquire the assets through one of its wholly owned subsidiaries and expects to close the transaction shortly after the hearing.
“We are very excited to have been the winning bidder for the Shari’s Berries brand, and we are looking forward to getting final court approval and closing the transaction later this month,” says Chris McCann, CEO of 1-800-Flowers. “Shari’s Berries is a leading provider of dipped berries and other specialty treats with strong brand awareness and a 15-year heritage in the gourmet gift industry. We see Shari’s Berries as an excellent fit in our ‘all-star’ family of brands and the acquisition will help further expand our authority position as a leader in the growing gourmet food and gift baskets space.”
He notes the company plans to gradually integrate Sheri’s Berries into its operating platform and to reposition the brand as a premium provider of confections and other gourmet treats.
“As with all of our brands, we will focus on driving strong top and bottom-line performance for the Shari’s Berries brand by enhancing the overall customer experience and leveraging the unique capabilities of our business platform to improve its operating efficiency,” McCann explains.
Additional details regarding the acquisition will be revealed on August 22, when 1-800-Flowers shares its guidance for fiscal year 2020, the company reports.