FTD.COM Buys Flowers Direct
FTD Inc., Downers Grove, IL, a provider of floral services and products to FTD florists and consumers, on Friday announced the acquisition of the Flowers Direct LLP business by its consumer business subsidiary, FTD.COM.Flowers Direct is a direct marketer of floral products and specialty gifts, including everyday and special-occasion floral arrangements, green and blooming plants and gourmet food items.
"The synergies between FTD.COM and Flowers Direct will enable us to integrate Flowers Direct's operations with FTD.COM's existing floral and specialty gift consumer business," president/CEO/chairman Robert L. Norton said in a statement. The purchase price for the assets acquired was funded from FTD.COM's existing cash balances.
