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FLORISTS' TRANSWORLD DELIVERY ASSOCIATION EXPANDS INTO GREETING CARD BUSINESS

 FLORISTS' TRANSWORLD DELIVERY ASSOCIATION EXPANDS
 INTO GREETING CARD BUSINESS
 /ADVANCE/ DETROIT, Aug. 25 /PRNewswire/ -- FTD Holdings, Incorporated announced today that an agreement has been reached to acquire Renaissance Greeting Cards, a 16-year old greeting card publishing business with more than $8 million in revenues. FTD Holdings is a wholly owned subsidiary of the Florists' Transworld Delivery Association (FTD)(R) that was established in early 1992 as part of an overall plan to identify and target future market opportunities for FTD Member Florists.
 Renaissance Greeting Cards is located in Sanford, Maine, employs 60 people and has more than 7,000 active accounts throughout the United States. The company has an average five-year growth rate of more than 10 percent and is the first acquisition made by FTD Holdings.
 "The FTD/Renaissance Greeting Cards arrangement, is a perfect platform for FTD and its members to expand into complimentary areas of the sentiment expression business," said John Borden, executive vice president of FTD. "The acquisition of Renaissance Greeting Cards is a new way for FTD to continue to provide convenience, choice, and customer satisfaction. Placing flowers and cards under one roof provides customers with the convenience of one-stop sentiment expression shopping, the choice of finding and purchasing exactly what they want, and the satisfaction of knowing that they are receiving top quality products and services," he explained.
 According to Borden, Renaissance Greeting Cards has a talented and committed management team and, under the agreement announced today, that management will continue. The major development will be that the Renaissance Greeting Card line will now be available to all of the more than 24,000 FTD member florists. Renaissance Greeting Cards will continue to operate independently and will not be merged into FTD operations.
 "We are very excited about our new agreement with FTD," said Randy Kleinrock, president of Renaissance Greeting Cards. "Teaming up with another leader in the sentiment expression industry provides great opportunities for us to achieve our business goals and continue to provide consumers with creative ways to express themselves."
 Renaissance Greeting Cards is a leader in the alternative greeting card market and is recognized for its quality artwork and well-matched editorial content, as well as its strong commitment to customer service. Renaissance Greeting Cards are sold through gift and card shops, book stores, specialty stores and select floral shops.
 FTD was founded in 1910 by 15 retail florists who agreed to exchange orders for out-of-town floral deliveries, and today is owned and directed by more than 24,000 independent retail member florists in the United States and Canada. In the 1990-1991 fiscal year, FTD Member Florists delivered more than 20.1 million flower orders by wire and generated sales of more than $678 million.
 -0- 8/25/92/0800
 /CONTACT: David Adler or Carinna Marson of Cone Communications, 617-227-2111, for FTD/ CO: Florists' Transworld Delivery Association ST: Michigan, Maine IN: REA SU: TNM


DD -- NE001 -- 2437 08/24/92 08:25 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Aug 24, 1992
Words:491
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