The Medford, OR-based parent company of food gifts cataloger/retailer Harry and David and horticultural merchant Jackson & Perkins has filed for a proposed initial public offering.
Formerly known as Bear Creek Corp., Harry and David Holdings was sold in June 2004 in a leveraged buyout led by Wasserstein & Co. Bear Creek’s estimated sales for 2003 were $542 million; former parent company Yamanouchi Pharmaceutical Co. sold it for $260 million, or nearly eight times earnings.
For 2004 its sales are estimated at $553 million, with its more than 145 Harry and David stores accounting for more than $150 million in revenue. Wasserstein & Co. recouped its $82 million investment in the company this past February, just eight months after leading the buyout.