1-800-Flowers is buying Harry & David

By Aaron Smith

NEW YORK (CNNMoney) -- An online flower peddler is paying big bucks to branch out to fruit baskets.

1-800-Flowers.com has agreed to buy the retailer Harry & David Holdings for $142.5 million in cash, the companies announced Tuesday.

The 80-year-old Harry & David specializes in its so-called Fruit of the Month gift baskets, but it also ships chocolate and wine.

The Oregon company operates as an online retailer, though it also has 47 stores throughout the U.S.


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