Bed Bath & Beyond And 1-800-FLOWERS.COM Reach Deal To Complete Sale Of PersonalizationMall.com

(RTTNews) - Bed Bath & Beyond Inc. (BBBY) and 1-800-FLOWERS.COM, Inc. (FLWS) Tuesday said the the companies have entered into a settlement agreement with respect to the litigation relating to the previously announced sale of PersonalizationMall.com.

As part of this agreement, 1-800-FLOWERS.COM has agreed to move forward with its purchase of PersonalizationMall.com from Bed Bath & Beyond for $245 million, subject to certain working capital and other adjustments.

The companies anticipate the transaction to close on or before August 3, 2020, subject to customary closing requirements.

Upon close of the transaction, Bed Bath & Beyond will withdraw its existing litigation against 1-800-FLOWERS.COM and 800-FLOWERS, INC. related to the purchase agreement previously announced on February 18, 2020.