Gerald Stevens Inc., the specialty floral and gift retailer, has acquired San Francisco-based Calyx & Corolla (www.calyxandcorolla.com), the floral direct marketer. Terms were not disclosed.
Calyx & Corolla stockholders will receive common stock of Gerald Stevens in the acquisition, which is expected to close within 30 days. The purchase of the upscale catalog and Internet flower vendor will make Calyx & Corolla a wholly owned subsidiary of Gerald Stevens.
Gerald Stevens said the addition of Calyx & Corolla’s database, its experience as a direct marketer of floral products and its long-standing relationships with growers and FedEx would position it to be the dominant retailer of flowers on the Internet.
Calyx & Corolla, founded in 1989 by Ruth M. Owades, pioneered in direct-from-the-grower delivery via FedEx. Calyx & Corolla mails 15 million catalogs per year to over 1.5 million customers. It also sells through a Web site (http://www.calyxandcorolla.com).
Formerly a privately held company, Calyx & Corolla investors include ABC Inc. (now Disney) and the investment banking firm Hambrecht & Quist LLC. In 1998, Calyx & Corolla had revenues in excess of $20 million.
Network
