Markets

Harry & David sold for $142.5 million

/ AP

CARLE PLACE, N.Y. - 1-800-FLOWERS.COM Inc. is buying Harry & David for $142.5 million to help broaden the assortment of foods that its customers can choose as gifts.

The deal includes Harry & David Holdings Inc.'s brands, websites, 47 retail stores, some plants, orchards and its headquarters in Medford, Oregon.

Harry & David's fruit, food and other gifts are housed under brands including Wolferman's, Cushman's and its namesake. Products include Royal Riviera pears, Wolferman's specialty English muffins and Cushman's HoneyBells citrus gifts.

1-800-FLOWERS' brands already include Fannie May, Cheryl's and The Popcorn Factory.

The transaction is expected to close in October.

Shares of 1-800-FLOWERS (FLWS), based in Carle Place, New York, jumped more than 12 percent in Tuesday premarket trading.

First published on September 2, 2014 / 8:42 AM EDT

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