1-800-FLOWERS.COM agrees to sell PersonalizationMall.com and Things Remembered for $45M

• 1-800-FLOWERS.COM agreed to sell PersonalizationMall.com and Things Remembered to PlanetArt for approximately $45 million in cash.
• The transaction is part of the company’s strategy to simplify operations and focus on its core brands.
• The deal is expected to close within weeks, subject to customary closing conditions.

1-800-FLOWERS.COM (NASDAQ:FLWS) announced a definitive agreement to sell PersonalizationMall.com and Things Remembered to PlanetArt, LLC for approximately $45 million in cash.

The transaction is another step in the company’s ongoing effort to simplify its business structure, strengthen its financial position, and focus resources on its primary brands and strategic growth opportunities.

The company said the divestiture will provide additional financial flexibility as it continues executing its transformation strategy and allocating resources toward areas it believes have greater potential to support sustainable, profitable growth.

PlanetArt is a global technology platform focused on personalized, made-on-demand e-commerce products.

1-800-FLOWERS.COM said PlanetArt is expected to provide continued support for the growth and development of PersonalizationMall.com and Things Remembered.

As part of the agreement, the companies expect to enter into a commercial arrangement allowing 1-800-FLOWERS.COM to continue offering select PersonalizationMall.com products to its customers.

The transaction is expected to close within the coming weeks, subject to customary closing conditions.