1-800-Flowers.com to Sell 2 Chocolate Brands

1-800-Flowers.com Inc. said Wednesday it agreed to sell its Fannie May and Harry London chocolate brands to Italian chocolatier Ferrero International S.A. for $115 million. Newsday reports the deal by Ferrero, one of the world’s largest chocolate confectionery companies, to buy the two brands is subject to regulatory approvals and is expected to close by May 30. The acquisition includes Fanny May's e-commerce business, 79 retail stores located primarily around Chicago, a manufacturing facility in Ohio, and two warehouse and distribution facilities. Ferrero was founded in 1946 and includes fan favorites such as Raffaello, Ferrero Rocher, Kinder Chocolates, Nutella and Tic Tac.

Total Retail's Take: A smart match-up. The acquisition will be enable to expand Ferrero to expand in a new way with more options for similar audiences, while 1-800-Flowers.com will be able to invest more resources into its primary floral business. The acquisition, which is expected to be signed on or before closing of the sale, will provide 1-800-Flowers with U.S. distribution rights for Fannie May, Harry London and certain Ferrero products.