Harry & David
|Headquarters||Medford, Oregon, US|
Harry & David is an American company that was founded in 1910, when Seattle hotelier Samuel Rosenberg purchased 240 acres (97 ha) of pear orchards in Medford, Oregon. His sons, Harry and David, took the company over upon his death in 1914. The company is best known for beginning the business of mail order direct marketing of fruit, especially through its "Fruit-of-the-Month Club." Their "Harry & David" brand specializes in high-end gift baskets and holiday gift towers.
Ownership & History
The company is owned by private investment firms Wasserstein & Company and Highfields Capital Management, who bought the company in 2004. In 2005, Wasserstein and other investors took out dividends exceeding $100 million, and charged millions more in "management fees."
Harry and David defaulted on its debt in 2011, also terminating its employee pension obligations. The company filed for Chapter 11 bankruptcy on March 28, 2011. The company completed its bankruptcy reorganization in September 2011. In November 2012, the company announced it had started a winery with plans for nine wines.
- Jeff LaLande. Harry & David in The Oregon Encyclopedia
- James Surowiecki (January 30, 2012). "Private Inequity". The New Yorker. Retrieved 2012-01-23.
- "Harry & David sells Jackson & Perkins". Portland Business Journal. April 2, 2007.
- "Harry & David Holdings, Inc. Acquires Wolferman's, Leading Multi-Channel Marketer". Press Release. Reuters. January 15, 2008. Retrieved 2010-12-16.
- "Harry & David Holdings, Inc. Announces Acquisition of Cushman Fruit Company". Press Release. Reuters. August 11, 2008. Retrieved 2010-12-16.
- Bruce Horovitz (March 28, 2011). "Harry & David seeks Chapter 11 bankruptcy protection". USA Today. Retrieved 2011-03-28.
- Goldfield, Robert (September 14, 2011). "Harry & David emerges from bankruptcy". Portland Business Journal. Retrieved 3 November 2012.
- Stevens, Suzanne (November 2, 2012). "Harry & David launches winery". Portland Business Journal. Retrieved 2 November 2012.