Total Luxury Group Inc., New York City, has acquired 38 million shares of common stock in Petals Decorative Accents Inc., from a majority shareholder for approximately $19 million. That purchase included warrants to acquire 100 million shares of the company’s common stock.
Separately, Total Luxury bought 100% of Petals series C preferred stock for just over $1 million. That agreement included the right to purchase another 7.6 million shaes.
Petals sells decorative silk flowers, plants and trees, along with mirrors, lamps, rugs, figurines and other home décor items.
Don Jones, Total Luxury’s chairman, will serve as CEO of the two companies.
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