Medford, Ore. — The iconic brand and one of Jackson County’s top employers, Harry & David, has a new owner.
The company has been sold to to the world’s leading florist and gift shop 1-800-Flowers.
The global retailer said it bought Harry & David for $142.5 million Tuesday.
The sale includes the company’s online business, its Medford headquarters and orchards, an Ohio distribution center, and their 47 retail stores in the U.S.
President of Medford’s Chamber of Commerce Brad Hicks said he thinks the sale is a good thing. He said the new owners have the resources to take Harry & David to the next level.
“It sounds like it’s a well capitalized company. They have a lot of employees, they’ve got brand recognition, and I just think that’s going to help spread the Harry & David story even farther and wider,” Hicks said.
According to 1-800-Flowers the combination of the two companies will bring annual revenue to more than $1 billion.
Harry & David reached $400 million in revenue in its most recent reported fiscal year.
Hicks said the revenue increase could mean a boom for our local economy.
“Hopefully they’ll be employing more people. It’s an aggressive goal but if they were to do it it would be nothing but good news,” Hicks said.
Harry & David’s current senior management team will remain with the business which will become a wholly owned subsidiary of 1-800-Flowers. The deal is expected to close in October.
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