Teters Floral acquires Napa Home & Garden assets
Staff Staff -- Casual Living, August 8, 2011
Napa Home & Garden, Inc., a home accents and garden wholesaler that filed for chapter 11 bankruptcy on July 5, has announced that the company's assets have been acquired by Teters Floral Products, Inc., a permanent floral and decorative accessories provider.
Transaction details were finalized on Aug. 4, after the two organizations entered into an agreement for Teters to purchase assets related to the core Napa Home & Garden business, according to a press release from Teters.
Napa also announced that the company is taking orders as normal and shipping from its facility located here as Napa Home & Garden, a division of Teters Floral. Napa founders Jerry and KC Cunningham will direct Napa operations, and the company will maintain showrooms at the Atlanta, Dallas, Denver, High Point and Los Angeles markets, the press release said. Napa will continue to use its sales force of more than 75 independent representatives.
"My wife KC and I look forward to providing the elegant and tasteful home and garden products our customers have come to expect, only now with the financial and operational support of such a strong owner as Teters." Cunningham said. "Buyers will now experience a bigger and better Napa Home & Garden."
"We at Teters have been admirers of the Napa team, product offering and approach to customer service for quite some time," said Mark Johnson, CEO of Teters. "We believe the synergies between Teters and Napa will expand the capabilities of both groups tremendously."
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