Article Abstract:
Promotional products distributor Ha-Lo Industries Inc will acquire online premium-merchandise firm Starbelly.com in a stock swap deal worth $240 million. Under the deal, Starbelly.com shareholders will receive $19 million in cash and new shares of Ha-Lo common and preferred stock. The deal will enable Ha-Lo to take advantage of Starbelly's online expertise, while Starbelly will be able to participate with Ha-Lo blue-chip client relationships.
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Article Abstract:
Hanover Direct has purchased a 51% equity interest in Always In Style of Weehawken, NJ. Hanover's stake in the customized electronic commerce fashion service enhances expansion of its Web services division, which covers Internet marketing services and fulfillment operations of Keystone Internet Services. The company's catalog brands will benefit from the Internet-based capacity Always In Style offers for using an automated interactive method for customer access to personal style and taste advice.
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Internet florist 1-800-flowers.com of Westbury, NY, has acquired online gourmet food site Greatfood.com of Seattle, WA, for $18.5 million. The acquisition would enable 1-800-flowers.com to gain access to Greatfood.com's network of vendors including Blue Crab Bay Co, Sarabeth's Kitchen and The Ultimate Basket. Greatfood.com has both an e-commerce site and a print catalog that complements its online site.
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