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Note 16 - Subsequent Events
6 Months Ended
Jan. 01, 2023
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 16. Subsequent Events

 

Acquisition of Things Remembered

 

On January 10, 2023, the Company completed its acquisition of the Things Remembered brand, a provider of personalized gifts, which will maintain it's well-known brand and whose operations will be integrated within the PersonalizationMall brand, in the Consumer Floral & Gifts segment.

 

The Company used cash on its balance sheet to fund the $5.0 million purchase, which included the intellectual property, customer list, as well as certain residual inventory and equipment. The acquisition did not include Things Remembered retail stores. Things Remembered’s annual revenues from its ecommerce operations, based on its most recently available financial information was $30.4 million for the twelve months ended November 30, 2022.