1-800-FLOWERS.COM acquired Cheryl & Co. for ~$40 million (cash), a transaction announced in March 2005, structured as All-cash merger; purchase of all stock of Cheryl & Co., Inc..
Cheryl & Co. operates in Gourmet Foods & Gift Baskets, is based in United States (Westerville, Ohio). 1-800-FLOWERS.COM signed a definitive merger agreement to acquire all of the stock of Cheryl & Co., Inc., a Westerville, Ohio-based manufacturer and seller of cookies and other baked gift items, in an all-cash purchase valued at approximately $40 million. In its fiscal year ended January 2005, Cheryl & Co. recorded revenues of approximately $33 million and EBITDA of approximately $4.9 million. The deal was subject to a final vote of Cheryl & Co. shareholders and was expected to close by March 31, 2005.
Added a leading baked-gifts brand to the company's fast-growing Food, Wine and Gift Basket category, increasing annual revenues in that category to more than $100 million.
Leverage of the company's e-commerce technology, customer service, fulfillment capabilities, corporate sales force and 15-million-customer database to accelerate Cheryl & Co.'s sales growth. Operated as the Cheryl's / Cheryl's Cookies brand within gourmet foods and gift baskets.
We are pleased and excited to be adding the wonderful Cheryl & Co.-branded line of baked gifts, as well as the very talented founder and CEO Cheryl Krueger and her team to 1-800-FLOWERS.COM.Jim McCann, CEO, 1-800-FLOWERS.COM
Advisory firms were not disclosed for this transaction.