1-800-Flowers.com expands gift base with purchase of The Popcorn Factory - e-Watch - Brief Article

DSN Retailing Today, May 20, 2002

WESTBURY, N.Y. -- 1-800-Flowers.com is expanding its gift base to include popcorn and other food items with its acquisition of The Popcorn Factory from Wand Partners Inc., a private investment firm, for about $4.9 million in stock, according to a May 6 regulatory filing. 1-800-Flowers.com also will assume $7.3 million of The Popcorn Factory's debt, and will issue 353,003 shares of common stock in 1-800-Flower.com to The Popcorn Factory shareholders.

Through the acquisition, 1-800Flowers.com will offer an array of The Popcorn Factory's products, including popcorn, chocolates, cookies and other treats. The items will be sold in decorative gift tins and baskets via catalogs and online at 1-800-Flowers.com.