The Carle Place-based 1-800-Flowers.com is expanding its reach into the gourmet food gift basket business by acquiring wholesaler DesignPac Gifts at a sum of $36 million.
Jim McCann, chief executive of 1-800-Flowers, said in a statement: “The acquisition can help up enhance the growth and profitability of all our existing gourmet food gift businesses.”
He further informed that DesignPac has strong relationships with many of the country’s biggest retailers.
The company is planning further acquisitions as according to McCann, “Our stated goal is to become the biggest player in the category.”
The company’s existing gourmet gift basket segment has grown to more than $250 million in revenue, which makes it one of the biggest players in the industry.
