SAN DIEGO, May 27 /PRNewswire/ -- Provide Commerce, Inc., the parent company of ProFlowers, Secret Spoon, Cherry Moon Farms and Shari's Berries, has acquired the assets of San Francisco-based online gift retailer Red Envelope (RedEnvelope.com) following a bankruptcy auction today in San Francisco. Red Envelope filed for Chapter 11 bankruptcy protection in April 2008.
"We are thrilled to add Red Envelope under the Provide Commerce family of brands -- they have a great brand, solid customer base and an attractive line of merchandise," said Bill Strauss, Provide Commerce CEO. "By combining the assets of both companies, we believe we can strengthen all of our brands while providing our customers with even more exciting products to choose from."
Provide Commerce will assume full ownership on June 23, 2008. Over the next few weeks, Provide Commerce and Red Envelope will be working to make the transition as smooth as possible for employees, customers, vendors and partners.
"We have spent a significant amount of time with the Red Envelope team over the last few weeks; we're impressed with their work and we look forward to working with them through the integration and beyond," said Strauss. "Red Envelope will remain a separate brand operating like ProFlowers, Cherry Moon Farms, Secret Spoon and Shari's Berries and customers should experience the same high levels of customer service."
About Red Envelope
Red Envelope is a branded online retailer of upscale gifts, dedicated to inspiring its customers to celebrate their relationships through giving.
About Provide Commerce
Provide Commerce, Inc. operates an e-commerce marketplace of websites for high-quality products direct from the supplier to the customer at competitive prices. The company's platform combines an online storefront, proprietary supply chain management technology and established supplier relationships to create a market platform that bypasses traditional supply chains of wholesalers, distributors and retailers.
