Gourmet Group Inc., Buda, TX, reached an agreement last week to acquire Fancy Foods Gourmet Club — a gourmet food catalog and Internet-based mail-order house — in an effort to capture part of the $34 billion gourmet food market.
Terms of the agreement were not disclosed. Fancy Foods Gourmet Club was established in 1994 and has a product line of more than 300 items, including smoked salmon, caviar, pates, chocolates, honeys, snacks, cooking essentials and gift sets.
It has a customer base of more than 6,000, and during the last 18 months revenues have been evenly divided between the company's Web site, at www.ffgc.com, and mail-order sales.
