1-800-FLOWERS.COM Agrees To Buy Fannie May Confections
David Taiclet, CEO of Fannie May Confections Brands, Inc., left, and Chris McCann, President of 1-800-FLOWERS.COM, hold trays of candy at Fannie May’s downtown Chicago location last month.
For gift givers throughout the years, candy and flowers have represented a natural pairing. Clearly management of 1-800-FLOWERS.COM sees it that way as well.
Last month, the Carle Place, N.Y.-based floral/gift company announced an agreement to acquire Fannie May Confections, a retailer and manufacturer of confections sold under the labels Fannie May, Harry London and Fanny Farmer, from parent company Alpine Confections for approximately $85 million.
Alpine Confections co-owners Taz Murray and Dave Taiclet acquired Fannie May for $38.9 million in 2004, not long after they had acquired the Harry London brand. Together Murray and Taiclet own three additional candy companies — U.S.-based Maxfield’s and Kencraft and Dynamic Chocolates, a Canadian company, all of which Murray will continue to lead.
“It just made a lot of sense,” says Taiclet, CEO of Fannie May Confections. 1-800-FLOWERS.COM, which has a customer base of 15 million, has been working to expand its Food, Wine and Gift Basket business for the past several years, and the company reports that confectionery has become an increasingly important part of that business.
Fannie May Confections will continue to be based in Chicago, and its senior management team, including Taiclet, President Terry Mitchell, and COO Alan Petrik, will remain in place.
The company operates 52 Fannie May retail stores in the Chicago area. Sales for the fiscal year ending April 30, are expected to total $75 million.