1-800-Flowers.com Acquires Fannie May Confections

1-800-Flowers.com will acquire Fannie May Confections Brands Inc., which markets a variety of sweets via the Fannie May, Harry London and Fanny Farmer brands. The acquisition price of $85 million in cash includes the firm’s Canton, OH-based manufacturing plant, and 52 Fannie May stores in the Chicago area.

Fannie May Confections will generate around $75 million during its current fiscal year, which ends April 30. The acquisition is expected to close around May 1. Fannie May senior management will remain with the company, which will continue to be run out of Chicago. Dave Taiclet will continue as CEO, Terry Mitchell as president, Matthew Anderson as CFO, and Alan Petrik as COO.

“The Fannie May, Harry London and Fanny Farmer names represent premium candy brands, perfect as gifts for any occasion and offer a significant opportunity for growth, particularly through the leveraging of our assets and capabilities in the online and direct marketing space,” said Jim McCann, CEO of 1-800-Flowers.com, in a statement.