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Gerald Stevens Sells Florafax for $10.7 Mil

FORT LAUDERALE, FL-An estimated 150,000 sf of brick-and-mortar product is involved in the floral wire-service deal with Los Angeles-based Telefora, a competitor.

By David R. Corder | Updated on July 11, 2001

FORT LAUDERDALE, FL-Gerald Stevens Inc. has sold its floral wire-service business to Los Angeles-based Teleflora for $10.71 million in cash and assumption of certain liabilities. An estimated 150,000 sf is involved.

Gerald Stevens officials say, in a prepared statement, Teleflora submitted the highest and best offer. The transaction includes the Florafax national headquarters operation in Vero Beach and two other call centers that Florafax operates in Medford, OR and Tulsa, OK.

The Fort Lauderdale-based marketer received approval this week from the U.S. Bankruptcy Court in Miami to sell its Florafax business unit to Telefora which operates a competing floral wire service.

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