Business
1-800-FLOWERS.COM, Inc.® Signs Definitive Agreement to Acquire PersonalizationMall.com™, a Leading Online Retailer of Personalized Products
PersonalizationMall.com is highly complementary to the Company’s unique portfolio of leading gifting brands $252 million acquisition price funded primarily
About this update from 1-800-flowers.com, Inc.
[{"type":"text","content":"\n\nPersonalizationMall.com is highly complementary to the Company’s unique portfolio of leading gifting brands\n\n\n$252 million acquisition price funded primarily with cash on balance sheet\n\n\nTransaction is expected to be accretive to earnings and cash flow in the Company’s fiscal 2021 year\n\n\n CARLE PLACE, N.Y.--(BUSINESS WIRE)--\n1-800-FLOWERS.COM, Inc. (NASDAQ: FLWS) (the “Company”), a leading provider of gifts designed to help customers express, connect and celebrate, today announced the signing of a definitive agreement to acquire PersonalizationMall.com, a leading online retailer of personalized products that offers thousands of products available with a broad range of innovative personalization options.\n\n\nChris McCann, CEO 1-800-FLOWERS.COM, Inc., said, “PersonalizationMall’s extensive product offering and industry-leading personalization capabilities will be an excellent addition to our growing family of popular gifting brands. The broad assortment of customizable products and processes that have made PersonalizationMall.com a premier provider of keepsake items will help us further our company’s vision to inspire more human expression, connection and celebration while enhancing our position as the leading one-stop destination for all our customers’ celebratory and gifting occasions.”\n\n\nMcCann noted that PersonalizationMall.com has achieved steady financial growth for the past several years, with revenues reaching more than $150 million in its most recent year. “We expect PersonalizationMall.com to be accretive to our top and bottom-line results in fiscal 2021,” he said.\n\n\nThe acquisition, for $252.0 million in cash (subject to certain working capital and other adjustments), includes the PersonalizationMall.com website and its new, state-of-the-art 360,000 square foot production and distribution facility in Bolingbrook, Illinois. PersonalizationMall.com will become a wholly owned subsidiary of 1-800-FLOWERS.COM, Inc.\n\n\nThe Company plans to finance the transaction with a combination of cash on its balance sheet and use of its existing credit facility.\n\n\nThe acquisition will provide 1-800-FLOWERS.COM, Inc. with several complementary and leverageable assets, including:\n\n\n\nA newly renovated 360,000 square foot state-of-the-art production and distribution facility;\n\n\nA large customer database, cons...