1-800-Flowers.com to buy The Popcorn Factory for $4.9 million

WASHINGTON - 1-800-Flowers.com Inc. has agreed to acquire The Popcorn Factory for about $4.9 million in stock, according to a regulatory filing Monday. <br> <br> The Popcorn Factory, Lake Forest, Ill., is a direct marketer of popcorn and other food gifts including chocolates, cookies and other confections. It was held by Wand Partners Inc., a New York private investment firm. <br> <br> 1-800-Flowers.com, based in Westbury, N.Y., will also assume $7.3 million of The Popcorn Factory&#39;s debt. It will issue 353,003 shares of 1-800-Flowers common stock to The Popcorn Factory shareholders. <br> <br> Shares of the company were at $13.98 Monday morning on the Nasdaq Stock Market, down 2 cents, or 0.1 percent. <br> <br> According to the filing with the Securities and Exchange Commission, 1-800-Flowers expects a loss of about $1 million during the fiscal fourth quarter ending June 30 on earnings before interest, taxes, depreciation and amortization basis, due to the seasonality of The Popcorn Factory&#39;s business. <br> <br> 1-800-Flowers anticipates that during fiscal 2003, beginning July 1, The Popcorn Factory will contribute revenue of about $30 million and positive EBITDA of about $2.4 million. <br> <br> The Popcorn Factory generated about $30 million in revenue during calendar 2001, the filing said. <br> <br> 1-800-Flowers sells fresh flowers and other gifts. <br> <br>