Foster & Gallagher Acquires Two, Sells Two

Horticulture direct marketer Foster & Gallagher Inc., Peoria, IL, has acquired two plant catalogs and divested itself of two other companies.

The newly acquired catalogs are Gurney's Seed & Nursery Co. and Henry Field's Seed & Nursery Co. Terms of the agreements were not disclosed.

"This strategic acquisition compliments our well-established horticulture brands, and further reinforces our leadership position in the horticulture marketplace," said Robert A. Ostertag Jr., president and CEO of Foster & Gallagher, in a statement.

The catalogs expand the company's category into flower and vegetable seeds, gardening tools, fertilizers and pest control products. The catalogs also will be incorporated into Foster & Gallagher's Web site, (http://www.gardensolutions.com).

The company has also announced the divestiture of The Popcorn Factory and its joint venture interest with Mauna Loa Macademia Nuts to Wand Partners, a private equity investment firm with investments in direct marketing and marketing services. Details of the sale were not disclosed.

Foster & Gallagher will continue to provide order taking and other support functions for the two titles into the year 2000 to ensure a smooth transition.

Foster & Gallagher is an importer of Dutch bulbs and is a direct marketer of perennials, shrubs, trees and wildflower seeds in North America. The core business includes Spring Hill Nurseries, Breck's, Michigan Bulb Co., Stark Brothers, Vermont Wildflower Farms among others.