1-800-FLOWERS to Buy Cheryl & Co.
The deal, valued at $40 million, is expected to be finalized by March 31.
"Delicious cookies, cakes and other baked goods are among the fastest-growing gifts in our Food, Wine and Gift Basket category," said Jim McCann, 1-800-FLOWERS.COM CEO.
In addition to flowers, 1-800-FLOWERS gift offerings include plants, gift baskets, gourmet food, wine, confections and collectibles.
Cheryl & Co. was founded in 1981 by Cheryl Krueger and is based in Westerville, OH. It sells cookies, brownies and cheesecakes through retail stores, a catalog, Web site and its business gift services division.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters