1-800-Flowers agrees to business unit for $17M

AP News
|
Posted: Dec 07, 2009 5:49 PM

1-800-Flowers Inc. on Monday announced that it will sell its home and children's gifts business to PH International for $17 million.

PH International, based in Richmond, Va., is a manufacturer and wholesaler of home decor and garden products.

The deal is expected to close near the end of January.

1-800-Flowers had planned to sell the gifts business segment so it could concentrate on its core floral, gourmet foods and gift basket categories.

Shares of 1-800-Flowers rose 20 cents, or more than 7 percent, to $3 in after-hours trading.